哎，时间是把杀猪刀呀。# Piebridge - 鹊桥
g*2
1 楼
Accidentally, I did a wash sale in Dec of 2010. I am not clear about the
consequences. Just by checking online info, the following may the
consequences I need to swallow. (pls comment)
(1) I can not claim the loss of the stock in filing 2010 tax.
(2) My disallowed loss may be added to the basis of the replacement stock.
An instance I found online is as
"Example: Some time ago you bought 80 shares of XYZ at $50. The stock
has declined to $30, and you sell it to take the loss deduction. But then
you see some good news on XYZ and buy it back for $32, less than 31 days
after the sale.
You can't deduct your loss of $20 per share. But you add $20 per share
to the basis of your replacement shares. Those shares have a basis of $52
per share: the $32 you paid, plus the $20 wash sale adjustment. In other
words, you're treated as if you bought the shares for $52. If you end up
selling them for $55, you'll only report $3 per share of gain. And if you
sell them for $32 (the same price you paid to buy them), you'll report a
loss of $20 per share."
But the article also says
"There are times, though, when the wash sale rule can have truly painful
consequences.
* If you don't sell the replacement stock in the same year, your loss
will be postponed, possibly to a year when the deduction is of far less
value." (I am not clear about this. Does anyone know more details of this
mentioned loss postponed cause most likely I will sell my stock in 2011 not
the same year I did the wash sell.)
Thanks for your help....
consequences. Just by checking online info, the following may the
consequences I need to swallow. (pls comment)
(1) I can not claim the loss of the stock in filing 2010 tax.
(2) My disallowed loss may be added to the basis of the replacement stock.
An instance I found online is as
"Example: Some time ago you bought 80 shares of XYZ at $50. The stock
has declined to $30, and you sell it to take the loss deduction. But then
you see some good news on XYZ and buy it back for $32, less than 31 days
after the sale.
You can't deduct your loss of $20 per share. But you add $20 per share
to the basis of your replacement shares. Those shares have a basis of $52
per share: the $32 you paid, plus the $20 wash sale adjustment. In other
words, you're treated as if you bought the shares for $52. If you end up
selling them for $55, you'll only report $3 per share of gain. And if you
sell them for $32 (the same price you paid to buy them), you'll report a
loss of $20 per share."
But the article also says
"There are times, though, when the wash sale rule can have truly painful
consequences.
* If you don't sell the replacement stock in the same year, your loss
will be postponed, possibly to a year when the deduction is of far less
value." (I am not clear about this. Does anyone know more details of this
mentioned loss postponed cause most likely I will sell my stock in 2011 not
the same year I did the wash sell.)
Thanks for your help....
