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Equity
Trading unchanged at 0.0049. Countertrend Up (+85) - CRGP is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Index
Trading up +0.73 ( +0.02%) at 3050.56. Countertrend Up (+85) - SPC30020 is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Future
Trading up +0.1035 ( +0.99%) at 10.5205. Strong Uptrend (+100) - @KOL.U21 is in a strong uptrend that is likely to continue. With short-term, intermediate, and long-term bullish momentum, @KOL.U21 continues to climb. Traders should protect gains and look for a change in score to suggest a slow down in momentum.
Foreign Exchange
Trading unchanged at 0.47671057. Strong Uptrend (+100) - ANGEUR is in a strong uptrend that is likely to continue. With short-term, intermediate, and long-term bullish momentum, ANGEUR continues to climb. Traders should protect gains and look for a change in score to suggest a slow down in momentum.
Mutual Fund
Trading unchanged at 11.37. Countertrend Up (+85) - ARBIX is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Why is wash sale important?
The wash sale rule is in place to prevent investors from trying to game the tax system by selling securities at a loss to reap the tax benefit, and then buying them back in more favorable conditions to also benefit from a potential gain. But that said, the rule is tricky enough that many investors can unknowingly fall under its purview without ...
How long does it take to sell a wash sale?
It will be classified as a wash sale if you do one of the following things within a 61-day period beginning 30 days before the sale and ending 30 days after it: Buy substantially identical stock or securities. Acquire substantially identical stock ...
How to sell a stock at a loss?
The IRS wash sale rules may apply when you sell or trade a stock or other security at a loss. It will be classified as a wash sale if you do one of the following things within a 61-day period beginning 30 days before the sale and ending 30 days after it: 1 Buy substantially identical stock or securities 2 Acquire substantially identical stock or securities in a fully taxable trade 3 Acquire a contract or option to buy substantially identical stock or securities
What happens if you sell a wash sale?
When you have a wash sale, the loss is "disallowed", meaning you can't use the loss to reduce the amount of capital gains that you report on Schedule D of your tax return. The rules exist to prevent investors from realizing a loss just to reduce the taxes they owe, then immediately reestablishing the position they sold.
What are some options for paying taxes?
Some of these choices can include paying in cash, liquidating investments, taking out a loan, or even using your credit card.