Replies to post #24008 on Box Ships Inc (TEUFF)

[Toxic Avenger]

http://www.investopedia.com/terms/w/washsalerule.asp

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.

It can also mean two colluding entities trading back and forth to increase a stock's volume and price.