FormerXBC Inc XEBEQ

Last day of tax loss selling...sideways until next year

[ZouZS3]

If they want to buy it back before the rally in January, they have to sell now or they'll have to wait until end of January to buy back. When you sell an investment and trigger a capital loss, the superficial loss rule states that you can't deduct the capital loss if you buy (or purchase a right to buy) an identical security within 30 days of the settlement date of your sale transaction. This means you can't purchase the security 30 days before or 30 days after your settlement date. Violating the rule means your tax benefit would effectively be cancelled. The rule also states that affiliates" can't make a purchase.