2 Answers: Can I Sell Index Fund with Amazon Stock and then Buy Amazon Stock Individually w/ No Tax Penalty?

Question

There is no such thing as a tax penalty for buying and selling the same stock in the same year.

What you can’t do is sell a stock to take a tax loss and then turn around and buy that same stock back within 30 days. That is known as a ‘wash sale’ and you lose the ability to take a tax loss. That is not a tax penalty.

An index fund that owns some Amazon stock is not Amazon stock. The wash rule would not apply here.

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Anonymous 8 months 2 Answers 65 views 0

Answers ( 2 )

  1. I think you do actually need to pay the tax from your capital gains for this one…

  2. That sounds like you are trying to get away with paying tax. Probably consult a lawyer regarding this

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