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Wash Sale Question

Forum|Forum|4 years ago
November 22, 2021
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I bought stock XYZ on three different occasions during 2021. Purchase #1 was on June 10th, #2 was on July 1st and purchase #3 was on October 18th. I sold purchase #1 (loss) on October 24th so it became a wash sale. I want to claim the loss on stock purchase #2 to offset some capitals gains. To avoid a wash sale do I have to wait 31 days after October 18th (purchase #3) or 31 days after my last sale (Oct. 24th). From what I read online, only buying the same stock within 30 days of selling would create a wash sale. Thanks.

Not A Product Question

Best answer by fanfare

Having sold at a loss. to not see your loss disallowed you must wait 31 days before you buy the identical security.

OR if you bought that security within thirty previous days, your loss will be disallowed.

It is a BUY that triggers wash sales, not a SELL

fanfareAnswer

Employee

Having sold at a loss. to not see your loss disallowed you must wait 31 days before you buy the identical security.

OR if you bought that security within thirty previous days, your loss will be disallowed.

It is a BUY that triggers wash sales, not a SELL

fasteddie577Author

So to qualify for the capital loss I should sell 31 days after my last buy and not my last sale, correct? And then not rebuy the same stock within 30 days, right? Thanks