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> buying a share of something equivalent Wouldn't that be a wash sale, and thus fraud to claim the loss as a tax deduction?
by xapata 7y ago
> buying a share of something equivalent
Wouldn't that be a wash sale, and thus fraud to claim the loss as a tax deduction?
- nullc 7y agoI believe you and the prior posters are using different meanings for the word equivalent. Buying the same asset under a different name (say, packaged under a different ticker on another exchange) would be a wash share. Buying a truly different underlying asset in the same sector/region which has 99.9% correlation with the original asset you held would not be a wash sale.
- xapata 7y ago> 99.9% correlation I think that's either an exaggeration or exceedingly rare.