Capital Gains & Losses
Loss From Buying And Selling The Same Shares Of Stock In The Same Day
The tax laws' "wash sale" provisions prohibit you from recognizing any loss from the sale of buying and selling substantially the same stock within 30 days of selling a stock. If you incur a gain within the 30 day period, the "wash sale" provisions do not apply and gain is reportable on IRS Schedule D.
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