Nolo's Plain-English Law Dictionary

Legal Dictionary Home

Need Professional Help? Talk to a Lawyer
Enter Your Zip Code to Connect with a Lawyer Serving Your Area
searchbox small
Wash Sale
The selling and repurchasing of an asset, usually stocks or bonds, within a very short time frame. People used to do this to realize a loss for tax purposes, but the IRS caught on and made such losses nondeductible for most taxpayers.
LA-NOLO4:LDR.1.5.0.20140409.25642