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What is a Wash Sale?

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What is a Wash Sale?

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A wash sale occurs when shares are redeemed at a loss and repurchased within a 61 day period, beginning 30 days before the sale and ending 30 days after the sale. Any loss resulting from the sale is disallowed by the IRS and must be added into the average cost basis of the newly purchased shares.

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” g=”MostPopular” tm=”wash, what is a wash sale?, turbo tax wash sale, tax, wash sale” sm=”A wash sale is a sale where losses are not allowed because you recover your market position within a short time period.” s=”0.0012″ rk=”9″ pt=”179″ at=”0″ pr=”0″ ar=”0″>

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