On my monthly statement from Fidelity, certain transactions are occasionally foot-noted as “disallowed short-term losses.” What does that mean?
A disallowed short-term loss refers to the sale of a security that was bought within the last 30-days. A sale within 30-days of a purchase that resulted in a loss cannot be used as a loss to offset taxes. Fidelity adds this notation on your account statement as a courtesy reporting issue. Consult your tax advisor for specific information about your tax situation.
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