Quote:
Originally Posted by Sunset
Why not buy something similar so you avoid the wash sale, and take the deductible loss.
Is it the FOMO that makes you think the existing stock will skyrocket up ?
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this ^^^
OP, this is the way to capture a loss and keep holding something similar, but different enough.
With a wash sale the disallowed loss is added to the other shares, so you don't really book the loss.
Whatever you do, do not sell a position at a loss and repurchase in a IRA or similar account. If you sell at a loss in a taxable account and repurchase an IRA (or similar) within the bounds of a wash sale rules, you will technically reduced the basis in the IRA, but it never can be used.