Lost_Sailor16
Junior Member
What is the name of your state (only U.S. law)? Wisconsin
I have a pretty small amount of stock in the company that I work for that I would like to sell. If I sell it now I would have around a $1200 loss. My thought was, I can sell my stock and use it to buy new windows for my house. I could then claim capitol loss for the stock sale and get the tax credit for the new windows.
As I was doing some searching I found out about the "wash sale".
The reason I have the stock is because the company I work for has an employee stock purchase plan. They take out money from all of my checks and twice a year buy stock for me in the company. The next date for purchase is December 31st. Since I probably wouldn't be able to sell it for a couple of days, and the money is already put in the account for the December purchase, would this be considered a wash sale?
I have a pretty small amount of stock in the company that I work for that I would like to sell. If I sell it now I would have around a $1200 loss. My thought was, I can sell my stock and use it to buy new windows for my house. I could then claim capitol loss for the stock sale and get the tax credit for the new windows.
As I was doing some searching I found out about the "wash sale".
The reason I have the stock is because the company I work for has an employee stock purchase plan. They take out money from all of my checks and twice a year buy stock for me in the company. The next date for purchase is December 31st. Since I probably wouldn't be able to sell it for a couple of days, and the money is already put in the account for the December purchase, would this be considered a wash sale?