A wash-sale is a tax strategy to sell and immediately repurchase stocks that have dropped in value in order to maintain ownership of the stock, but also claim a tax deduction for the loss on tax filings.

To understand wash-sales, one must first understand the difference between unrealized and realized capital loss.

Unrealized capital losses are “floating” losses on stocks that have not been sold, so the loss has not actually been incurred.

Losses are “realized,” or permanently incurred, when the stock is sold. Only realized capital losses are tax deductible—this is where the wash-sale rule comes into play.
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0:00 Wash Sale Rule Definition
0:21 Unrealized vs Realized Capital Loss
1:09 Wash-Sale Rule
1:21 How to Avoid the Wash-Sale Rule
2:03 Wash Sale Rule Question & Application
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