Washington Trust Bancorp Inc. (NASDAQ:WASH)
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- mradams0621: $WASH SALES/ $TAX LOSE SELLING- I have been reading up on this, and learning about as much as when I tried to read the Obumercare Health bill- it's simply not within my abilities to comprehend either. Any advice on what NOT to do with wash sales o ...
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Matt77: $WASH SALES - I believe you can still trade the same security, but if you had a loss on the trade, the loss is not permitted on your taxes. If you have a gain - you always report the gain.
$IRS Pub 550
http://www.irs.gov/publications/p550/ch04 ... -
Tricia: ...
CBST: Adding on any Pullback ... ABSSSCI - skin infections that to date won't respond ....One final note $WASH WASH $WASH your HANDS!!!!
- Tricia: FLU STOCKS - SMM - $BCRX pps 6.73, up 3.5%, $NVAX pps 3.25 up 2.5 % --- also $SNY and $VICL - watch for news on China bird flu and Arab flu .... the @CDC lists 30 common viruses as potential chemical warfare candidates --- $WASH YOUR HANDS ( Nurse Ratchett just came out ) !
- amisure: $WASH - $SALE question. If I buy back a stock I previously lost money in and buy back inside 30 days this is a wash sale, but what if I buy back option calls? Is this still considered a wash ?
- grover12: $WASH SALES - How is best way - or is there one - to deal with wash sales. $IRS is enforcing the 30 day rule. For instance I buy $LVS with a tight stop and I am stopped out. I still see potential in $LVS and would like to buy it when the opportunity presents. The only solution I see is to keep the initial loss small so that if i buy $LVS or alike stock or option within the 30 day period, my buy must have the potential for a profit that will overcome the wash sale penalty. Hope this makes sense. I appreciate your help. There has to be a better way for me to handle this $IRS rule.
- grover12: $WASH SALES @tjay Thanks. I appreciate your help Anyone else want to comment
- grover12: $WASH SALES @cainoftier @Henry @mradams0621 Gratreful for your help. wASH SALES
- grover12: $WASH SALES Thanks to all. Now its time to move on - enough on this subject.
- Taurus: $WASH SALE RULE-Good weekend all, my understanding of the wash sale rule is that if you sell a security for a loss and then purchase and identical lot of the same security within 30 days you can't take the loss. However, you can add the loss of the first lot to the cost basis of the new lot. My question is if you sell all shares or #options of the like security within the same year does the wash rule matter? Do you still need to define the former security as a wash rule security. Technically all losses and loss carry overs will be recorded in the same tax year so can't you just enter in the gains and losses like any other stock? Any clarity is greatly appreciated, David
- bella: $WASH SALE-@Henry-Thanks for the great article. It's easy to follow, lays out all the nuances and applies the rule to stocks and #options. The examples are very helpful.
- Poppy: $WASH Sale Thanks to all who help me resolve to learn this important rule.. Will do better THIS year 2012. Good trading @poppy
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Poppy: $WASH SALE - aw @Henry -
Are you working for the IRS? LOL.
I just want to simplify the question, so yes there is more to the story...hope I'm not offending anyone with the whole shebang.
I bought 100 shrs - stopped out of 50 shr, still hold ... -
Henry: $WASH SALE @Poppy No $IRS experience, it's just one of the things to know about, like ex dates and buy to open vs buy to close. The devil is in the details.
Scenario A: If you bought 50 shares, then bought another 50 within 30 days, then sold 50 ... - Wolf: $WASH SALE - technically, you can't buy a call on the same stock, but I doubt if they would notice it. Not sure if brokers report a wash sale if you buy a call.
- gold2stocks: @hackerman1 - and other new traders - If you have a small account to work with you need to also be vigilant of incurring $WASH SALES. They will hammer your cost of stock if you move in and out of the same one several times after selling for a loss and then buying it back once it went much lower. You will be very happy you got such a deal and they look to your horror that your cost basis is much higher than where you bought it at....within 30 days. This is why @Dan's stops work so well and using his 1% rule. G2S
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Henry: $WASH SALE orphan thread by @Rontee
"If you take a stop loss and buy the stock back, are you not risking paying more for the stock and might as well have kept it? This is the problem with the wash rule.
"I would appreciate any observations on th ... -
Poppy: $WASH SALE - @rontee
Following what @Henry posted : re the $IRS computer knowing what you did at two different brokers -- if you use Turbo Tax to do your taxes, you have to answer the question as to whether you have bought the same security withi ... - adampswen: $WASH SALES, Ameritrade and TurboTax - Good weekend to you all. I have gone through the previous weekend folders to see if this was discussed and it has not been the case other than something unrelated with Wash Sales. I have a slew of "wash sales" that I have to report. The wash sales did not get imported from the .txf file correctly. I am trying to figure out if there is another way to attack this to make it easier. I figure i am not the only one to encounter this issue with all the great people in this forum.
- MissEllie: $WASH SALES-@adampswen-does this link help you at all? http://turbotax.intuit.com/tax-questions/Basic-Income/c5PsBe7M8r3Bdhab4l2XMs.html
- travelingman: $WASH SALE From want I have ascertained from Schwab Rep, there is the 30 day rule for the immediate transaction deduction especially right at the end of the year but if you are doing this now and break the 30 day rule that loss is just carried out for 30 more days then applied to your position when you sell the total position. It is never totally lost to you. You still get the loss. I guess the rule was made to prevent end of the year tactics. The nice thing about Schwab with the new accounting, I complained about it initially, is they keep track of it for you. So you do not have to worry about the rule until the end of the year where you would lose the deduction for that year but move it into the next. Hope this helps.
- hooked1: $WASH - @Henry, thanks for the pointer to the weekend post. I must have missed it.
- jthieman: $WASH SALE @travelingman is correct. Publication 17 of the $IRS states the following: "If your loss was disallowed because of the wash sale rules, add the disallowed loss to the cost of the new stock or securities. The result is your basis in the new stock or securities. This adjustment postpones the loss deduction until the disposition of the new stock or securities." Note: This wash sale rule applies only to losses within the 30 day period before and after the sale. It does not apply to sales resulting in a gain.
- sierra4: $WASH RULE I didn't want to bring this up during the trading day, but I see all the time on here people selling and buying back in Am I missing something with the length of time rules or do you just not need the deductions? I never bought back in less than thirty days so don't know what I'm missing. Are #options considered against the same stock? Thanks Sierra
- travelingman: @Charles Schwab and Company----Do not know if you have noticed the new bookkeeping to your trading account. As of January 1st they are reporting $WASH SALES on their Realized Gain/ Loss to the IRS. I guess I have been not interpreted the rule correct ...
| Stock Price | $29.58 |
| Change | -3.46% |
| Volume | 179,391 |
Washington Trust Bancorp Inc. through its subsidiaries offers an array of financial services to individuals and businesses, including wealth management, through its offices in Rhode Island, eastern Massachusetts and southeastern Connecticut.
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