wash sale definition – a wash sale results when someone sells stock or securities at a loss and, within 30 days before or after the sale, buys, in a fully taxable trade, substantially identical stock or securities. The seller cannot deduct losses incurred from wash sales, although gains from such sales are taxable.
.
Legal-Definitions.com is a comprehensive online legal dictionary provided free of charge.
The legal terms and legal definitions found in this legal glossary are the property of Legal-Definitions.com.
The legal definitions and legal terms found on this site may not be reproduced without the express written consent of Legal-Definitions.com.