I was wondering if it was possible to claim losses for this specific scenario:
Buy 100 shares of A on December 10th 2019
Sell 100 shares of A for a loss on December 17th 2019 <- this would be a wash sale
Buy 100 shares of A on December 18th 2019 <- triggers the wash sale
Sell 100 shares of A for a loss on December 27th 2019
Don't buy anymore shares of A until February of 2020.
Does anyone know if in this particular case one would be able to claim losses if they close entire positions of share A before end of year?
You'll need to sign in or create an account to connect with an expert.
@Onyux wrote:Does anyone know if in this particular case one would be able to claim losses if they close entire positions of share A before end of year?
Yes, one would be able to claim the losses (since the positions have been closed out in their entirety) provided substantially identical securities are not acquired within the 30-day period after the last sale on December 27th.
@Onyux wrote:Does anyone know if in this particular case one would be able to claim losses if they close entire positions of share A before end of year?
Yes, one would be able to claim the losses (since the positions have been closed out in their entirety) provided substantially identical securities are not acquired within the 30-day period after the last sale on December 27th.
But if one were to repurchase on January 2020 and within the 31 days from the last sale they wouldn't be able to deduct for 2019 taxes right?
That is correct.
Thanks for the replies 🙂
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ghellerf
Level 2
Ambertomsullivan
Level 2
BMC763
Level 1
odelljohnm
New Member
nsch25
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.