topic Wash sales on December and tax implications. in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/wash-sales-on-december-and-tax-implications/01/967425#M38040 <P>I was wondering if it&nbsp; was possible to claim losses for this specific scenario:</P><P>Buy 100 shares of A on December 10th 2019&nbsp;</P><P>Sell 100 shares of A for a loss on December 17th 2019 &lt;- this would be a wash sale<BR />Buy 100 shares of A on December 18th 2019 &lt;- triggers the wash sale</P><P>Sell 100 shares of A for a loss on December 27th 2019<BR />Don't buy anymore shares of A until February of 2020.<BR /><BR /></P><P>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?</P> Thu, 19 Dec 2019 18:01:38 GMT Onyux 2019-12-19T18:01:38Z Wash sales on December and tax implications. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/wash-sales-on-december-and-tax-implications/01/967425#M38040 <P>I was wondering if it&nbsp; was possible to claim losses for this specific scenario:</P><P>Buy 100 shares of A on December 10th 2019&nbsp;</P><P>Sell 100 shares of A for a loss on December 17th 2019 &lt;- this would be a wash sale<BR />Buy 100 shares of A on December 18th 2019 &lt;- triggers the wash sale</P><P>Sell 100 shares of A for a loss on December 27th 2019<BR />Don't buy anymore shares of A until February of 2020.<BR /><BR /></P><P>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?</P> Thu, 19 Dec 2019 18:01:38 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/wash-sales-on-december-and-tax-implications/01/967425#M38040 Onyux 2019-12-19T18:01:38Z Re: Wash sales on December and tax implications. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967429#M38041 <BLOCKQUOTE><HR /><LI-USER uid="672567"></LI-USER>&nbsp;wrote: <P>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?</P> <HR /></BLOCKQUOTE> <P>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&nbsp;<SPAN class="ILfuVd"><SPAN class="e24Kjd">30-day period after the last sale on December 27th.</SPAN></SPAN></P> Thu, 19 Dec 2019 18:08:16 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967429#M38041 tagteam 2019-12-19T18:08:16Z Re: Wash sales on December and tax implications. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967440#M38042 <P>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?</P> Thu, 19 Dec 2019 18:21:04 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967440#M38042 Onyux 2019-12-19T18:21:04Z Re: Wash sales on December and tax implications. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967442#M38043 <P>That is correct.&nbsp;</P> Thu, 19 Dec 2019 18:22:16 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967442#M38043 tagteam 2019-12-19T18:22:16Z Re: Wash sales on December and tax implications. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967447#M38044 <P>Thanks for the replies&nbsp;<span class="lia-unicode-emoji" title=":slightly_smiling_face:">🙂</span></P> Thu, 19 Dec 2019 18:30:10 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967447#M38044 Onyux 2019-12-19T18:30:10Z
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topic Wash sales on December and tax implications. in Investors & landlords
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<P>I was wondering if it&nbsp; was possible to claim losses for this specific scenario:</P><P>Buy 100 shares of A on December 10th 2019&nbsp;</P><P>Sell 100 shares of A for a loss on December 17th 2019 &lt;- this would be a wash sale<BR />Buy 100 shares of A on December 18th 2019 &lt;- triggers the wash sale</P><P>Sell 100 shares of A for a loss on December 27th 2019<BR />Don't buy anymore shares of A until February of 2020.<BR /><BR /></P><P>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?</P>
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<title>Wash sales on December and tax implications.</title>
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/wash-sales-on-december-and-tax-implications/01/967425#M38040
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<P>I was wondering if it&nbsp; was possible to claim losses for this specific scenario:</P><P>Buy 100 shares of A on December 10th 2019&nbsp;</P><P>Sell 100 shares of A for a loss on December 17th 2019 &lt;- this would be a wash sale<BR />Buy 100 shares of A on December 18th 2019 &lt;- triggers the wash sale</P><P>Sell 100 shares of A for a loss on December 27th 2019<BR />Don't buy anymore shares of A until February of 2020.<BR /><BR /></P><P>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?</P>
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<title>Re: Wash sales on December and tax implications.</title>
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967429#M38041
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<BLOCKQUOTE><HR /><LI-USER uid="672567"></LI-USER>&nbsp;wrote: <P>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?</P> <HR /></BLOCKQUOTE> <P>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&nbsp;<SPAN class="ILfuVd"><SPAN class="e24Kjd">30-day period after the last sale on December 27th.</SPAN></SPAN></P>
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<title>Re: Wash sales on December and tax implications.</title>
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967440#M38042
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<P>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?</P>
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<title>Re: Wash sales on December and tax implications.</title>
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967442#M38043
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<description><P>That is correct.&nbsp;</P></description>
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<title>Re: Wash sales on December and tax implications.</title>
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-wash-sales-on-december-and-tax-implications/01/967447#M38044
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<P>Thanks for the replies&nbsp;<span class="lia-unicode-emoji" title=":slightly_smiling_face:">🙂</span></P>
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