Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
E
eduardogarciacre
December 8, 2023
Question

Can I sell a stock without triggering a wash sale if I haven't bought or sold the stock in a over year, but did receive a stock lending payment for that stock this month?

  • December 8, 2023
  • 1 reply
  • 0 views
The stock lending was done through the Robinhood app. I have since disabled the feature but received a payment on December 6, 2023.

1 reply

M
Mike9241
December 8, 2023

While you’re allowing others to borrow your stocks, you still retain ownership over them and can sell them anytime you want. When you sell, you’ll still realize any gains or losses on the stock.  since you haven't sold the stock by lending it the wah sale rules would not apply. The payment will be taxed as ordinary income. 

 

here's a link to an article on stock lending - risks and rewards

https://www.cnbc.com/select/what-is-stock-lending/ 

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification