Legal Terms
wash sale
The selling and repurchasing of an asset, usually stock, within a very short time frame. People used to do this to realize a loss for tax purposes, but the IRS caught on and made such losses non-deductible for most taxpayers.
The selling and repurchasing of an asset, usually stock, within a very short time frame. People used to do this to realize a loss for tax purposes, but the IRS caught on and made such losses non-deductible for most taxpayers.
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