Situation: I own some long term SPY shares with cost basis above 400 from back in 2021. Was going to sell some of them before end of 2022 to offset some other gains for tax loss harvesting. Which would normally have been fine but...I accidentally forgot about that and bought 10 shares of SPY this past Thursday (12/22/2022) when it dipped down to $375 momentarily. Now, because of that purchase, there isn't enough time left in the year to wait out the required 31 days to tax loss harvest the more expensive shares before the year ends without triggering a wash sale. But...unless...what if I sell the 10 shares I bought Thursday for a small gain first (assuming the market price holds up on Monday morning). Will that then enable me to sell some of the more expensive shares and still be able to do a tax loss harvest for 2022 on them without triggering the wash sale? Or did I screw myself over here and the 10 shares I bought Thursday will still trigger the wash sale rule even though I would have sold them first?
Submitted December 25, 2022 at 01:26AM by TheChiefRedditor https://ift.tt/xWOUGnM
