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So I understand the wash sale is triggered if I sell for a loss and then buy the same stock within 30 days. But what is defined as a loss in said situation:
Purchased 100 stock xyz for $25 then purchased 100 more stock when it went down to $20. My average cost of 200 stock is $22.50. I decide to sell at let's say $24 and within the next 30 days I decide to buy stock again. Does this trigger a wash sale or will this be considered a profit because average cost determines if it was a loss or gain?
submitted by /u/Frequent_Lychee1228
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Purchased 100 stock xyz for $25 then purchased 100 more stock when it went down to $20. My average cost of 200 stock is $22.50. I decide to sell at let's say $24 and within the next 30 days I decide to buy stock again. Does this trigger a wash sale or will this be considered a profit because average cost determines if it was a loss or gain?
submitted by /u/Frequent_Lychee1228
[link] [comments]
Continue reading...
