Legal-Explanations.com - Legal resources in plain English
Legal-Explanations.com Home > Legal Definitions
 

Wash Sale

"A security's purchase and sale either within a short period of time (typically thirty days) or simultaneously. If a wash sale occurs, the taxpayer cannot deduct any capital losses on the sale. Instead, the loss is added to the basis of similar securities that were recently purchased.

 
Legal-Explanations.com Home
About us | Contact us | Privacy | Terms of service

2004 - 2007 Legal-Explanations.com. All rights reserved