I totally forgot about the wash sale rule and sold company XYZ at a loss and rebought about 5 days later.======in this case, you can't claim the loss on the sale of the security since you repurchased it within 30 days of selling it.for eamaple, say, you buy 1k shares of Company X's stockfor $10/share but the price then falls to $7 per share. If you sell off all of your shares on Dec. 1, you can take a $3k loss for tax deduction purposes provided you don't repurchase that same stock for at least 30 days following the sale. However, if on Dec. 20 you decide to repurchase 100 shares of Company X's stock, your original loss won't count for tax purposes, which means you won't be able to use it to offset your investment gains. aslongas the loss is disallowed by the IRS because of the wash-sale rule,as said,then, you need to add the loss to the cost of the new stock, which becomes the cost basis for the new stock.i mean, you won?t be able to take a loss for that security on your current-year tax return. Instead, you will have to add the loss to the cost basis of the replacement security For example, say, you purchased 100 shares of ABC for $33, sold the shares at $30, and within 30 days bought 100 shares at $32. In this case, while the loss of $300 would be disallowed by the IRS because of the wash sale rule, it can be added to the $3.2k cost of the new purchase. The new cost basis, therefore, becomes $3.5k for the 100 shares that were purchased the second time, or $35 per share.
I sold that second purchase and rebought yet a third time (TD Ameritrade is down now and I can't get the exact dates).
My question is, can I sell this third purchase at a loss and write is off from my realized gains for the year? I still have a large gain for the year.=======as said,you need to know the exact date of repurchasing the third share, your third purchase, basically, A wash sale is the sale of a security ,i.e., a stock , at a loss followed by the repurchase of the same security, or one that's substantially identical, within 30 days of the sale. The wash sale period is actually 61 days long, starting 30 days before the date a stock is sold and lasting 30 days after the sale.