Section 1091 disallows a loss on stock or securities sold and repurchased within 30 days before or after the sale, adding the disallowed loss to the basis of the replacement shares.
It applies to stocks, bonds, options, and mutual funds, including purchases in an IRA. It does not currently apply to cryptocurrency, which the IRS treats as property.
Congress has proposed extending the rule to digital assets repeatedly; the crypto treatment should be confirmed for the year involved. Wash sale rule and crypto.
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Definitions are general information, not legal advice, and may not reflect the most recent changes in law.
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