selling and repurchasing a stock in less than 30 days


B

Bill Dobbs

During 2006 I sold some stock and bought it back two days later. It was
initially bought over 12 months prior making it a long term capital gain.
In addition I sold another stock, repurchased it 19 days later, and sold it
again, both times and in total, owning it less than 12 months.

I made money on all of the transactions and am wondering how to handle it on
my filing.

I thought that I had heard that if an asset was repurchased less than 30
days after selling it was to be treated differently. If this is the case,
will TurboTax recognize it.

Thanks,
Bill
 
Ad

Advertisements

T

Todd H.

Bill Dobbs said:
During 2006 I sold some stock and bought it back two days later. It was
initially bought over 12 months prior making it a long term capital gain.
In addition I sold another stock, repurchased it 19 days later, and sold it
again, both times and in total, owning it less than 12 months.

I made money on all of the transactions and am wondering how to handle it on
my filing.

I thought that I had heard that if an asset was repurchased less than 30
days after selling it was to be treated differently. If this is the case,
will TurboTax recognize it.
When/if TT asks you about "wash sales" your answer appears to be
"yes."

See IRS publication 529.
http://www.irs.gov/publications/p550/ch04.html#d0e12561


Best Regards,
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top