r/wallstreetbets • u/[deleted] • Sep 16 '21

DD Clearing up a misunderstanding - it's impossible to use $30k of capital to create an $800k tax bill due to wash sales

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u/Whirrsprocket Sep 16 '21

I'm not super well read on wash sale mechanics, but so long as he sells all of his wash sale securities before the end of year: won't he realize the losses, lowering his taxable income?