Is this a wash sale?
May 29, 2002
Subject: wash sale rule
From: Venkat
Date: Mon, 18 Feb 2002
Is this a wash sale? I bought 4,700 shares of ABC on 10/17/2001 for $7,338. I bought 5,000 shares of ABC on 11/17/2001 for $4,386. I sold all 9,700 shares of ABC on 11/30/2001 for $11,865.
I am not positive if the first trade classifies as a wash sale. If it is a wash sale, I want to know the cost basis for the second transaction. Thank you.
Regards,
Venkat
Answer
Date: February 2002
Hello Venkat,
Since you sold all of the shares and didn't replace them, there is no wash sale.
Good luck!
Mike Gray
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