Thus, the sale of the replacement stock ( after its basis is adjusted ) can also be identified as a wash sale if it meets the above criteria.
32.
Wash sales are illegal transactions in which a futures contract is bought or sold simultaneously through two different brokers, resulting in the possible manipulation of trading volume or price.
33.
Using what's known as a " wash sale, " investors can sell a stock for a capital loss, wait a minimum of 31 days, and then repurchase that same stock.
34.
While ClearStation doesn't adjust for wash sales, it does allow users to print out a Schedule D-like report, although the report may not be detailed enough to file with the IRS.
35.
To avoid a wash sale, which bars a tax loss, you must wait at least 31 days from the time you sell something, usually a stock, until you buy it back.
36.
Other investments, if sold at a loss, can also create a tax deduction, but traders must not not run afoul of the " wash sale " rule of the Internal Revenue Service.
37.
Forced out of the exchange, Delta's debts were estimated at over 2.5 billion drachmas ( dlrs 10.4 million ), and money movers claim the sum accumulated as a result of rampant wash sales.
38.
But under the wash sale rules, those tax breaks are not available to traders who buy more of the same shares during the 30 days before or after the sale that yielded the loss.
39.
Robert McCullough, a Portland, Ore ., energy analyst, said a key question for the FERC will be to determine whether above-market wash sales influenced major market indices published by Dow Jones and other information sources.
40.
Be aware that if you change your mind and repurchase the same security or one that is " substantially identical " within 30 days, your tax loss will be disallowed under the wash sale rule.
