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Can I offset the tax accrued from the 100% sale of stocks in one company with the immediate investment in stocks in other company?

Forum|Forum|7 years ago
June 5, 2019
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Best answer by DanielV01

No. Once you have a sale of stock, you have a capital sale (a taxable event) which must be reported. The provision for a like-kind exchange (which can be used with real estate) does not apply to stocks.

Purchasing the new stock creates a new basis for a new investment. You will not report anything additional until that stock is sold.

DanielV01Answer

Employee

No. Once you have a sale of stock, you have a capital sale (a taxable event) which must be reported. The provision for a like-kind exchange (which can be used with real estate) does not apply to stocks.

Purchasing the new stock creates a new basis for a new investment. You will not report anything additional until that stock is sold.

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