2007-03-02 08:38:39 · 5 answers · asked by jackie f 1 in Business & Finance ➔ Investing
A wash sale is when you sell a stock before tax time for a loss to lower taxes and buy it back with in 32 days. you can get in deep **** for that.
2007-03-02 09:20:09 · answer #1 · answered by franksprung 3 · 0⤊ 1⤋
Not exactly. A wash sale would be if you sell the stock and then buy it again a few days later. You couldn't count the loss you incurred because the sale would be considered a wash sale.
2007-03-02 16:55:54 · answer #2 · answered by frnchfries2000 4 · 0⤊ 0⤋
its 30 calander days and no you cannot get in trouble for it what happens (from what i read on the link above) is that your original sale will not count if you buy it again within 30 days but the "loss" you took on it is added to whatever you bought the stock at a second time (if i read this correctly).
2007-03-02 20:57:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
frenchfrie is correct.
for more details go to
http://www.fairmark.com/capgain/wash/ws101.htm
if you are a professional day trader, wash sale rules may not apply.
2007-03-02 17:01:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No.
2007-03-03 01:00:06 · answer #5 · answered by Anonymous · 0⤊ 1⤋