What WASH SALE means: The purchase of substantially similar stock or other securities within 30 days before or after the sale of the similar stock or security at a loss. A taxpayer cannot claim a wash sale loss; instead, the loss is added to the basis of the most recently purchased substantially similar securities.
- Definition Worthless Securities:
- Dictionary for a security that becomes worthless during the year. The loss is deemed to have occurred on the last day of the year. Special rules apply to securities of affiliated companies and small business wash sale.
- Definition Worksheet:
- Dictionary A record of compiled information that is generally not sent to the IRS with a tax return wash sale.
- Definition Weather-Related Sale:
- Dictionary livestock in a particular year than is the farmer's usual practice because of drought, flood, or other weather-related conditions. If certain conditions are met, the farmer may elect to report wash sale.
- Definition Withholding Of Tax At Source:
- Dictionary tax by a payer prior to payment of various types of income as required by the tax Code. The recipient of the income claims the amount withheld as a tax payment on his or her tax return wash sale.
How works Wash Sale meaning in Tah definition W .