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DEFINITION of 'Wash-Sale Rule'
An Internal Revenue Service (IRS) rule that prohibits a taxpayer from claiming a loss on the sale or trade of a security in a wash sale. The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so. A wash sale also results if an individual sells a security, and the spouse or a company controlled by the individual buys a substantially equivalent security.
Read more: http://www.investopedia.com/terms/w/washsalerule.asp#ixzz3XyRZWxUw
Follow us: @Investopedia on Twitter
DEFINITION of 'Wash-Sale Rule'
An Internal Revenue Service (IRS) rule that prohibits a taxpayer from claiming a loss on the sale or trade of a security in a wash sale. The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so. A wash sale also results if an individual sells a security, and the spouse or a company controlled by the individual buys a substantially equivalent security.
Read more: http://www.investopedia.com/terms/w/washsalerule.asp#ixzz3XyRZWxUw
Follow us: @Investopedia on Twitter
