|
|
|
|
Home / Services / Calculators / Newsletter / Archives Wash Sales Traps The recent decline of the stock market has encouraged many people to sell their stocks to obtain a loss that can be deducted on their stock returns. This is all well and good, but the loss will not be allowed if the identical stock is purchased within 30 days prior to or after the sales of the stock. This is true even if additional shares are purchased through dividend reinvestment. You may avoid this trap by avoiding purchases during this 30-day period. You may purchase a similar, but different mutual fund during this 30-day period without falling into this trap. (November, 2002 Newsletter)
James E. Newland, CPA 939 Center Road Eastlake, Ohio 44095 440-951-9799 |
|
Send mail to
webmaster@newlandcpa.com with questions or comments about this web site.
|