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December 13, 2006

That's peculiar

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

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