Loss from buying and selling the same shares of stock in the same day
Answer:
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.
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.
