If you sell a security before the end of 2012 to take advantage of a capital loss, be aware of the wash sale rules. To make sure the loss is deductible, refrain from buying the same security or a substantially identical security during the 61-day period that begins 30 days before you sell and ends 30 days after.
Leave a Comment » | 
November 2012 | Tagged: capital loss, deductible, loss, Wash Sale Rules | 
Permalink
Posted by gillilandcpa
Thinking of selling a security before December 31 to take advantage of a capital loss? To make sure the loss is deductible, refrain from buying a substantially identical security during the 61-day period that begins 30 days before you sell and ends 30 days after. Such a purchase would violate the “wash sale rule” and make your loss nondeductible.
Leave a Comment » | December 2011 | Tagged: capital loss, deductible, stocks, wash sale rule | Permalink
Posted by gillilandcpa
