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Could you structure a contract where you buy it for $1 and sell it back the next day for $1?
by parrit 1y ago
Could you structure a contract where you buy it for $1 and sell it back the next day for $1?
- remyp 1y agoI could be misunderstanding, but this sounds like it would be a wash sale, which would prevent the seller from claiming the loss on their taxes. https://www.investopedia.com/terms/w/washsale.asp https://www.investopedia.com/terms/w/washsale.asp
- parrit 1y agoOh yeah! Get a lawyer. But then that's expensive. Might as well just leave it be and hold the shares.
- toomuchtodo 1y agoI would simply hold it until the value goes to zero. In the event enterprise value doesn’t go to zero, I would gift any gains back to OP after taxes (because I’m trying to do them a favor, not make an investment).