December 13, 2006
Did you know that the wash sale rules apply to losses, not gains? That is, that when you sell an asset that has a capital loss on it and then buy it right back you don't get a tax deductable loss, but if you sell one with gains and buy it back you can take it as income. That's odd, I guess they think that that maximizes tax revenues, although the article points out that at least in one case it reduces it.
Posted by OneEyedMan at December 13, 2006 9:54 PM
Post a comment
Thanks for signing in, . Now you can comment. (sign out)(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)