A wash sale is the sale and subsequent purchase of a " _____" security solely for the purpose of generating a tax-deductible capital loss.

Question

Quizplus · Accepted Answer

A wash sale involves the sale and subsequent purchase of a substantially identical security for the purpose of generating a tax-deductible capital loss. The key factor is that the security purchased must be substantially identical (or almost identical) to the one that was sold.

A Wash Sale Is the Sale and Subsequent Purchase of a