10-31-2021, 08:29 PM
Wash Sale Q ; Sell whole position Dec. 30; buy back Jan 30?
<!-- SC_OFF --><div class="md"><h1>Wash Sale Q ; Sell whole position Dec. 30; buy back Jan 30?</h1> <p>I am an individual investor with a major loss on a stock that I love, but I definitely need to take that loss in 2021. There are some pending events that make me reluctant to sell even a day before I have to to get the loss.</p> <p>If I sell the whole position on Dec. 30 and then buy it back Jan 30, 2022, will this allow me to take my losses in 2021?</p> <p>Or do I have to have sold by Nov. 30 for the 30 day wait period to be up on Dec 30 in order to count the losses for 2021?</p> <p>Also, I've gotten caught in this situation several times in the past and had to count disallowed wash sale losses on my taxes. I've since gotten out of all those positions but don't know how to add the losses back into my basis for this year. What IRS form do you use and which lines are affected?</p> <p>Thanks so much for any help you can offer!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/goodenoug4now"> /u/goodenoug4now </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/qjtm4m/wash_sale_q_sell_whole_position_dec_30_buy_back/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/qjtm4m/wash_sale_q_sell_whole_position_dec_30_buy_back/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><h1>Wash Sale Q ; Sell whole position Dec. 30; buy back Jan 30?</h1> <p>I am an individual investor with a major loss on a stock that I love, but I definitely need to take that loss in 2021. There are some pending events that make me reluctant to sell even a day before I have to to get the loss.</p> <p>If I sell the whole position on Dec. 30 and then buy it back Jan 30, 2022, will this allow me to take my losses in 2021?</p> <p>Or do I have to have sold by Nov. 30 for the 30 day wait period to be up on Dec 30 in order to count the losses for 2021?</p> <p>Also, I've gotten caught in this situation several times in the past and had to count disallowed wash sale losses on my taxes. I've since gotten out of all those positions but don't know how to add the losses back into my basis for this year. What IRS form do you use and which lines are affected?</p> <p>Thanks so much for any help you can offer!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/goodenoug4now"> /u/goodenoug4now </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/qjtm4m/wash_sale_q_sell_whole_position_dec_30_buy_back/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/qjtm4m/wash_sale_q_sell_whole_position_dec_30_buy_back/">[comments]</a></span>Kind Regards R