Wash sell question

[Shri]

I bought stock of a company on 05/01 and 05/02 and sold the
WHOLE stock on 05/07 and 05/15 at loss. Is it still
considered as a wash sell since I bought some stock on 05/02
(30 days before the sell) and sold it on 05/07?

 

[Phil Marti]

I bought stock of a company on 05/01 and 05/02 and sold the
WHOLE stock on 05/07 and 05/15 at loss. Is it still
considered as a wash sell since I bought some stock on 05/02
(30 days before the sell) and sold it on 05/07?

As long as you're completely out of the stock the wash sale
rule doesn't apply.

Phil Marti
Topeka, KS

 

[Stuart O. Bronstein]

I bought stock of a company on 05/01 and 05/02 and sold the
WHOLE stock on 05/07 and 05/15 at loss. Is it still
considered as a wash sell since I bought some stock on 05/02
(30 days before the sell) and sold it on 05/07?

It's a wash sale when you sell stock and then buy it back
again, so that you end up owning the stock but have what
would otherwise be a tax loss.

Sounds like you sold stock and did not buy it back. So
there's no wash sale.

Stu

 

[Barry Margolin]

I bought stock of a company on 05/01 and 05/02 and sold the
WHOLE stock on 05/07 and 05/15 at loss. Is it still
considered as a wash sell since I bought some stock on 05/02
(30 days before the sell) and sold it on 05/07?

If you've disposed of your entire position in the company,
and don't repurchase within 30 days, then there's no wash
sale.