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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Tax Strategies
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Author: bacon ⎊  😊 😞
Number: of 80 
Subject: Re: A very stupid capital loss wash sale question
Date: 10/21/24 9:13 AM
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A wash sale occurs only if there's a loss. If there's a profit, or a breakeven, there's no wash sale.

Given a loss on the sale, that loss isn't recognized as a capital loss for tax purposes if the same security or a substantially similar security is obtained within thirty days prior or subsequent to the date of sale.

What you've done in the more distant past doesn't matter; it's that 60-day interval that counts.

Eric Hines
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