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Hey guys, I appreciate the knowledge in here and wondered if someone might be able to help me with this wash sale question. A savy investment this was not.

I bought 1200 shares for 2052 and sold those shares in 2009 for 143 dollars for a loss of 1909. I bought the same stock in January of 2010 (less than a month later). I bought 2500 shares for 340 and still own in a different account. Can I still write some off for a loss? I really appreciate the help. thx

32counter · Answer

Hey guys, I appreciate the knowledge in here and wondered if someone might be able to help me with this wash sale question. A savy investment this was not.

I bought 1200 shares for 2052 and sold those shares in 2009 for 143 dollars for a loss of 1909. I bought the same stock in January of 2010 (less than a month later). I bought 2500 shares for 340 and still own in a different account. Can I still write some off for a loss? I really appreciate the help. thx

depeche2 · Answer

Nope. Wash sale rule. And you bought back more shares than you previously sold so all loss is disallowed. Normally you can add the disallowed loss to your new basis but in this case that would make it below $0. No idea how that would work. That was a bad tax move to buy back within a month.

rubberneck · Answer

must wait 30 days

32counter · Answer

Thanks Fellas.  Confirmation of my idiocy

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