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Wash-Sale Rule

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Wash-Sale Rule

An IRS rule prohibiting a taxpayer from claiming a loss on the sale of an investment when the same investment was purchased within 30 days before or after the sale date. Also know as the "30-day wash- sale rule".

Notes:

This rule was imposed to crack down on taxpayers trying to get a tax reduction from a wash sale.

See also: Crystallization, Paper Profit (or Loss), Wash, Wash Sale

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