Ask Ed: Financial Planning Questions And Answers
Question: Can capital losses be carried forward indefinitely?
Question: What is the “wash sale rule”?
Answer: A wash sale takes place when you sell or trade securities at a loss and repurchase the same or substantially identical securities within thirty days or purchase options or futures contracts to purchase substantially identical securities.
Question: How can I determine what the IRS considers @substantually identical securities?
Answer: IRS Publication 550 or consult a tax professional.
Have a question? Contact Ed Mahaffy.
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