topic Stocks Wash Sale in Get your taxes done using TurboTax

Stocks Wash Sale

fasteddie577 — Tue, 19 Oct 2021 19:58:23 GMT

I purchased stock ABC in May 2021. It tanked in early September 2021 so I decided to buy more during this month. My last purchase was made on September 20, 2021. I want to sell the May 2021 purchased ABC stock to claim the loss for the current tax year. Can I sell it now or do I have to wait 31 days after my last ABC stock purchase? I understand that if I rebuy this stock within 30 days it will be a wash sale. Thanks

Re: Stocks Wash Sale

fanfare — Tue, 19 Oct 2021 21:53:30 GMT

buying before you take the loss will not trick the rule.

Because Sept has 30 days, you bought identical share almost but not quite 30 days ago.

so, you have to wait a couple more days to avoid a wash sale

Re: Stocks Wash Sale

fasteddie577 — Wed, 20 Oct 2021 00:55:38 GMT

Thank you. Greatly appreciated. 👍