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  • TradeAway TradeAway Jun 3, 2008 8:52 PM Flag

    Question for those in the know

    You have to wait 31 days to avoid a wash sale, but your cost basis depends on whether you use the "first in first out" or cost averaging method.

    You have to choose one or the other and stick to it for the whole tax year -- you can't use FIFO to establish the basis for some transactions and then use averaging for others.

 
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