Stocks

[ExGingi]

[YitzyS]

FTFY

[Barryg]

This question could technically go in the accountant thread, but similar discussions were brought up here in the past.
I’m planning to hold onto a stock for a while and I’m currently at a loss on that said stock. If I sell all at a loss and then buy back in would that help offset gains (from other stocks) for tax purposes for the year?
Does it matter if I buy back immoderately or do I need to wait a day?
Would the same be true for selling and rebuying crypto?

[ExGingi]

This question could technically go in the accountant thread, but similar discussions were brought up here in the past.
I’m planning to hold onto a stock for a while and I’m currently at a loss on that said stock. If I sell all at a loss and then buy back in would that help offset gains (from other stocks) for tax purposes for the year?
Does it matter if I buy back immoderately or do I need to wait a day?
Would the same be true for selling and rebuying crypto?

If you buy it back within 30 days (IINM) it's considered a wash sale and is disregarded. You might be able to use options in order to avoid the wash sale rule, not repurchasing the stock within the wash sale period, but maintaining exposure.

[joeberg]

I think derivatives are also affected by the wash sale rules.

[Barryg]

If you buy it back within 30 days (IINM) it's considered a wash sale and is disregarded. You might be able to use options in order to avoid the wash sale rule, not repurchasing the stock within the wash sale period, but maintaining exposure.

Thanks.
So an easier option would prob be to open an account for my wife and sell mine, buy in new account.
Would different companies work under same account holder?

[ExGingi]

I think derivatives are also affected by the wash sale rules.

I stand corrected. Thank you.

https://fairmark.com/investment-taxation/capital-gain/wash/wash-sales-and-options/

[ExGingi]

Thanks.
So an easier option would prob be to open an account for my wife and sell mine, buy in new account.
Would different companies work under same account holder?

Based on what I read, that might not be a solution either.

https://fairmark.com/investment-taxation/capital-gain/wash/wash-sales-and-iras/

[Barryg]

Based on what I read, that might not be a solution either.

https://fairmark.com/investment-taxation/capital-gain/wash/wash-sales-and-iras/

yikes
So basically, buy and sell in a Roth, if possible

[yos9694]

Crypto is not affected by wash rule.

Buying in your wife's account is not a valid way to bypass the wash rule. Only valid way is to wait 30 days

[ari3]

Buying in your wife's account is not a valid way to bypass the wash rule. Only valid way is to wait 30 days

while it is not valid legally (neither is buying in an IRA account) no one will be the wiser if you buy this in another account. (I am not weighing in from an ethical standpoint just from a practical one).

If you are willing to risk it you can double up and sell the original shares after thirty days.

[Barryg]

Crypto is not affected by wash rule.

Buying in your wife's account is not a valid way to bypass the wash rule. Only valid way is to wait 30 days

so, I can sell crypto at a loss and rebuy (but shouldn’t do with stocks)?

[yos9694]

so, I can sell crypto at a loss and rebuy (but shouldn’t do with stocks)?

Yes. With stocks it's not that tou shouldnt or cant just that if you do sell and then rebuy toi cant claim the loss on taxes

[Barryg]

Yes. With stocks it's not that tou shouldnt or cant just that if you do sell and then rebuy toi cant claim the loss on taxes

Thanks for clarifying.
In the meantime my crypto losses have been cut quite a bit (for sure not complaining)

[YitzyS]

Amazon will have a stock split that is effective Monday, June 6, 2022.

[aygart]

Amazon will have a stock split that is effective Monday, June 6, 2022.

6 of one, half a dozen of the other.

[AussieMan]

What's the rationale of stock splits these days with fractional shares so readily available these days

[sguitarist18]

6 of one, half a dozen of the other.

FTFY

[ExGingi]

What's the rationale of stock splits these days with fractional shares so readily available these days

Options

[yos9694]

So make fractional options contracts