Wash sales

{
  "id": "MLC-T-FIN-000394",
  "term": "Wash sales",
  "field": "Finance and investing",
  "term_source": "Wash Sales",
  "definition": "A wash sale occurs when you sell or trade securities at a loss and within 30 days before or after the sale you:\n\nBuy substantially identical securities,\n\nAcquire substantially identical securities in a fully taxable trade, or\n\nAcquire a contract or option to buy substantially identical securities.\n\nInternal Revenue Service rules prohibit you from deducting losses related to wash sales. For more information about wash sales, read IRS Publication 550, Investment Income and Expenses (Including Capital Gains and Losses).",
  "references": [
    "SEC Investor.gov Glossary"
  ],
  "url": "https://mlchart.com/terminology/finance/wash-sales/"
}