At the beginning of this series, I mentioned briefly that taxpayers can use tax-loss harvesting approaches in tandem with a number of investment strategies, which we will go into in more detail in Part III. Many of these...more
In December 2022, I was quoted in an article in “Tax Notes” by Lee Sheppard to the effect that the wash sales rule in Internal Revenue Code (Code) Section 1091(a) (losses from wash sales of stock or securities) doesn’t apply...more
The taxation of derivatives and financial products has developed in an uncoordinated and piecemeal fashion. Tax rules have largely been enacted in response to what the government has perceived as abusive transactions —...more
Under the wash sales rule, taxpayers cannot deduct a loss on the sale of stock or securities if the taxpayer purchases the same or substantially similar assets a short time before or after the sale that triggered the loss....more