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What are the tax consequences of a wash sale?

April 26, 2017consequences sale tax wash

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What are the tax consequences of a wash sale?

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You cannot deduct losses from wash sales. If the wash sale rules apply, all or a portion of the loss is added to the cost basis of the repurchased shares and will be reflected in the calculation of gain or loss when these shares are sold. If you think that you may have entered into a wash sale, please consult your tax advisor for more information.