The “wash sale” rule: Don’t let losses circle the drain - WCS - Tax Preparation in Elkton MD

What to Know About Harvesting Capital Losses as a Tax-Saving Strategy - DWC CPAs and Advisors

Stock, mutual fund and ETF prices have bounced around lately. If you make what turns out to be an ill-fated investment in a taxable brokerage firm account, the good news is that you may be able to harvest a tax-saving capital loss by selling the loser security. However, for federal income tax purposes, the wash sale rule could disallow your hoped-for tax loss. The Wash Sale Rule Basics A loss from selling stock or mutual fund shares is disallowe…

The “wash sale” rule: Don’t let losses circle the drain - WCS - Tax Preparation in Elkton MD

Stock, mutual fund and ETF prices have bounced around lately. If you make what turns out to be an ill-fated investment in a taxable brokerage firm account, the good news is that you may be able to harvest a tax-saving capital loss by selling the loser security. However, for federal income tax purposes, the wash sale rule could disallow your hoped-for tax loss. Rule basics A loss from selling stock or mutual fund shares is disallowed if, within t…