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re: Diving deeper on Standard Lithium?
Posted on 11/19/21 at 10:45 am to deltaland
Posted on 11/19/21 at 10:45 am to deltaland
I was selling in one account to take advantage of ST losses, and buying in another to avoid wash sale implications.
Lowered my WA by 5% and locked in much needed losses.
Not sure which was worse for my sanity, the slide after uplist or yesterday.
Lowered my WA by 5% and locked in much needed losses.
Not sure which was worse for my sanity, the slide after uplist or yesterday.
2
Posted on 11/19/21 at 11:28 am to adupy
quote:
I was selling in one account to take advantage of ST losses, and buying in another to avoid wash sale implications.
I'm no tax expert, but I believe the IRS frowns upon this kind of thing. Anyone know for sure?
Posted on 11/19/21 at 1:13 pm to adupy
quote:
I was selling in one account to take advantage of ST losses, and buying in another to avoid wash sale implications.
Lowered my WA by 5% and locked in much needed losses.
If you did this with SLI you definitely won't be able to take any tax losses, using different accounts to sell/buy the same security is definitely a wash sale, no different than transacting both sides in one account.
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