Does the "Wash Rule" (30 days) apply only @ year end?

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Does the "Wash Rule" (30 days) apply only @ year end?

sell a stock today at a loss. buy back same stock today at a lower cost. can I charge off the loss on taxes this year

2007-07-18 22:35:16 · 3 answers · asked by ARLENE S 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

No, it does not apply only at year end, but any point in the year. If you sell a stock at a loss and buy it back within a 30 day period, the IRS deems that a wash sale and disallows the loss.

2007-07-19 02:11:44 · answer #1 · answered by Anonymous · 1⤊ 0⤋

No, it applies at any time. Sell at a loss and buy back within a period that is 30 days before or after the sale and the loss becomes non-deductible.

2007-07-19 06:44:46 · answer #2 · answered by waggy_33 6 · 3⤊ 0⤋

No you can't. The wash rule is in effect all year.

2007-07-19 10:21:52 · answer #3 · answered by Judy 7 · 0⤊ 0⤋