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After a sale is identified as a wash sale and if the replacement stock is bought within 30 days before or after the sale then the wash sale loss is added to the basis of the replacement stock. The basis adjustment preserves the benefit of the disallowed loss; the holder receives that benefit on a future sale of the replacement stock.
A wash sale occurs when an investor sells an asset for a loss but repurchases it within 30 days. The wash-sale rule applies to stocks, bonds, mutual funds, ETFs, options and futures but not yet to ...
The investor can employ a number of techniques to avoid triggering the wash sale rule. The investor can wait 30 days to repurchase the security. [11] The investor can purchase a security that is similar to the original, but that does not meet the IRS's definition of "substantially identical". For example, an investor can sell an ETF and buy ...
Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands. Taxpayers who hold real estate as inventory, or who purchase real estate for re-sale, are considered "dealers".
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Schlemeyer 56 Wash 2d 449, 353 P2d 672 (Supreme Court of Washington, 1960) termite infested house not revealed to buyers. Even though no questions asked, seller still liable for failure to disclose. Smith v. Bolles, 132 U.S. 125 (1889) damages for misrepresentation of share sale did not entitle the buyer to get money as if the representation ...
Corcoran’s Golden Rule of real estate investing consists of two main parts. The first is being able to purchase property with at least 20% down, ideally in a location that has started seeing an ...
Thus, if Oscar purports to sell a piece of land to Alice for $100,000, and the next day purports to sell exactly the same piece of land to Bob for another $100,000, then whichever of the two buyers is the first to reach the recording office and have the sale recorded will be deemed the owner of the property.