Published on 24 Apr 2024 on TheStreet via Yahoo Finance
Key takeaways
You can’t deduct a loss from the sale of stock or other securities if you acquire substantially identical stock or securities within 30 days before or 30 days after the sale.Whether stock or securities are “substantially identical” depends on all the facts and circumstances of your particular case.The wash sale rule doesn’t apply to cryptocurrency trading.Wash sales are reported to the IRS on Form 8949.