Taxes (TAX)

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Quicken and Wash Sales

Tell me about wash sale calculations in Quicken
Updated: 9/19/2009 | Article ID: 485
Read this topic if you repurchase a security within 30 days of selling shares of the same security at a loss.

A wash sale occurs when you sell a security at a loss but then repurchase it within 30 days at the low price. For tax purposes, capital losses are disallowed or postponed under these circumstances. Special tax rules apply.

In calculating capital gains, Quicken does not distinguish wash sales from other sales. If your investment activity includes wash sales, consult a tax professional or the IRS Web site for information about the tax implications.

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