Wash-Sale Rule

Wash-Sale Rule

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Wash-Sale Rule

Wash-Sale Rule definition:  When the same (or identically similar) security is sold and purchased within 30 days, the wash-sale rule applies.  Any wash-sale losses are not deductible and are not permitted to offset capital gains. Instead, the loss is added to the cost basis of the newly purchased security to minimize future gains.  A security must be held for at least 30 days before recognizing any capital losses.

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