I am looking for help on the wash rule. I would like to buy 50K shares of stock today, and then also sell 50K.

I have stock that I would like to take the lose in this year. Can I buy 50K shares today, bringing my total to 100K, and then, later today, sell 50K shares so I can take the tax loss for this year?





I am looking for help on the wash rule as it relates to tax loss selling. I don't want to wait 30 days to buy back.





Thanks....I am looking for help on the wash rule. I would like to buy 50K shares of stock today, and then also sell 50K.
The wash sale rule would apply. The 30 day period is 30 days before or 30 days after.





However, you can sell today and take a loss. The sale date is the trade date, not the settlement date. (IRS rules have changed.)





Since you want to keep the stock you need to weigh your tax considerations against the likelihood that the stock will go up in price within the next 30 days.I am looking for help on the wash rule. I would like to buy 50K shares of stock today, and then also sell 50K.
you can't do it if it's the same company whose stock you are buying and selling within 30 days
no you can not do that. You have to wait 30 days. The wash rule will apply in the case you cited.
One thing you could do is sell the stock today (the poster that said it is effective on the trade date was right) and buy a similar stock or an Exchange Traded Fund that tracks the same sector. Of course, if it's at a loss, you may want to look for something different!
There are two problems here, assuming you are talking about the same stock. First, this would be a wash sale and you could not claim the loss on your tax return. It does not matter whether you do the buying or the selling first. If the two transactions take place within 30 days, it is a wash sale. You have to wait at least 31 days.





Second, it is too late to take a loss this year, because this would be next year's transaction. The settlement date will occur in 2008. It is still a wash sale in 2008.





However you can buy the shares today if you want, and to claim the loss in 2008, wait 31 days before you sell the same amount of the same stock. Maybe you will be lucky, the stock will go up, and your loss would be smaller.
Interesting question. OK,I use brokers and accountants that handle off-shore accounts and have a huge expertize in this area. I would be happy to pass on there name to you if you email me.