Is this a wash sale, yes or no?

[S2007S]

Then, as I posted before, there is no wash sale.

Your broker apparently thinks you sold the original 50 shares at a loss within 30 days of buying them (e.g., if you bought them December 31, 2023 not in January, 2023).

Noooooo. Absolutely not.


The shares were bought over a year ago in Jan 2023 and sold with the new shares in jan 2024.
.

 

[murray t turtle]

not a wash for many reasons.

Having worked at a brokerage, their training is fast and not comprehensive at all. If you were speaking to a general cust service rep, ask to speak to their cost basis or reporting department. I'm sure they'll confirm not a wash.

%%
NOR would it be a wash in Roth, no taxes due;
may want to confirm that with CPA. Profits exclude wash sales

 

[S2007S]

They gave me no reason, just said they reviewed it and it's a wash sale. Least people here on the forums are showing me the breakdown with using the calculations I brought forward

 

[tiddlywinks]

At this point, I would say it is a wash sale. Of course, the whole wash thing will be moot for 2024 taxes if you wait at least 30 days from the date of your sell, before you trade the same stock (or something considered substantially similar) again.

My 2 cents.

 

[wxytrader]

Is this a wash sale


Buy 50 shares at 25 for

Cost $1250


Stock drops to 5.00.

Loss now $1000 ...

While still holding those shares I cost average in at 5 dollars buying 1000 additional shares at $5.00 a piece
.
Buy 1000 shares at $5.00 ..Cost average now:

1250 original Cost 50 shares at 25 plus $5000 for new shares 1000 at 5 dollars

$6250/1050 shares

Cost average now $5.95


I sell all 1050 shares at $6.00


Profit $52.50


Is this a wash sale? Yes or no?

We still have a bit of a loophole.

USA

A wash sale is when an investor sells a security in their portfolio and, within 30 days, buys a new or substantially identical version of the same stock. This method is employed as a means of lowering the investor's taxable income.

Canada

Superficial Loss: When employing tax-loss harvesting, make sure to consider the CRA's “superficial loss” rule. According to this rule, investors claiming a capital loss on the sale of an investment cannot buy the same investment within 30 days of the sale.

 

[S2007S]

At this point, I would say it is a wash sale. Of course, the whole wash thing will be moot for 2024 taxes if you wait at least 30 days from the date of your sell, before you trade the same stock (or something considered substantially similar) again.

My 2 cents.

So you say it's a wash sale.....

Only if I but it back within 30 days?