<topic sku="core" tNum="288351" author="erinpa" xmlns="x-schema:hhTopicSchema.xml"><index><title>Learn about wash sales</title><category>investing</category><klink type="cncpt">Tell me about wash sales</klink></index>
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<p>Under the wash sale rules, if you sell stock at a loss and buy it back within a 30-day period before or after the loss sale date, you cannot claim the loss on your taxes. This prevents taxpayers from selling stock to claim the loss and then buying it back within a short period of time to retain ownership. Keep this rule in mind as you buy and sell stock.</p>
<p variant="note">By importing your Money investment information to GainsKeeper, you can take advantage of precise capital gains calculations. GainsKeeper automatically adjusts your capital gains for wash sales, as well as for stock splits, mergers and spin-offs, and helps you complete your IRS Schedule D quickly and easily. Plus, you'll have access to tools and suggestions that could help save money on your taxes. All Microsoft Money users receive a free 30-day trial for GainsKeeper and discounts on an annual subscription. Money Premium and Money Small Business users get a whole year free!</p>
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<tease>Learn more about GainsKeeper</tease>
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<ol>
<li>On the <emph>Investing</emph> menu, click <emph>Portfolio</emph>.</li>
<li>In the left pane on the <emph>Other Tasks</emph> list, click <emph>Capital gains tracking for Schedule D</emph>.</li>
