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Understanding Tax Terms: Wash Sales – Surprise! Your stock loss is not deductible.

Understanding Tax Terms If selling a stock or mutual fund to book a loss for your tax return, the Wash Sale rules are worth knowing. For the unaware, this rule could cost you your loss deduction. As you look for year-end tax moves to save on your bill from Uncle Sam, you may consider selling stocks that have lost value. This can be a great strategy when up to $3,000 …Read More