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Wash-Sale Rule

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Dictionary Says

Definition of 'Wash-Sale Rule'

An Internal Revenue Service (IRS) rule prohibiting a taxpayer from claiming a loss on the sale of an investment when the same investment was purchased within 30 days before or after the sale date. Also know as the "30-day wash-sale rule".
Investopedia Says

Investopedia explains 'Wash-Sale Rule'

This rule was imposed to crack down on taxpayers trying to get a tax reduction from a wash sale.

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