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jtfootball350
New Member

I have a short term stock sale loss that is almost equal to a short term stock sale gain. Two different stocks... At the end of the year is it a wash

 
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MichaelL1
Level 15

I have a short term stock sale loss that is almost equal to a short term stock sale gain. Two different stocks... At the end of the year is it a wash

The short term gains and short term losses will be netted against each other on the tax return. 

Please don't use "wash" in discussing capital gains and losses unless there is a "wash sale."

Wash Sale: 

If you sell a security at a loss and buy the same or "substantially identical" security within 30 calendar days before or after the sale, the loss is typically disallowed for current income tax purposes. This is because of the so-called wash sale rule.

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MichaelL1
Level 15

I have a short term stock sale loss that is almost equal to a short term stock sale gain. Two different stocks... At the end of the year is it a wash

The short term gains and short term losses will be netted against each other on the tax return. 

Please don't use "wash" in discussing capital gains and losses unless there is a "wash sale."

Wash Sale: 

If you sell a security at a loss and buy the same or "substantially identical" security within 30 calendar days before or after the sale, the loss is typically disallowed for current income tax purposes. This is because of the so-called wash sale rule.

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