Wash-sale meaning

The sale and repurchase of a security within a short period of time, especially in order to realize a loss that can be deducted from taxable income.
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The illegal act of buying and simultaneously selling shares of a company's stock so as to create the appearance of active trading.
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The act of selling and then buying back within 30 days shares of a company's stock: it is now illegal to claim a tax deduction on the losses from such a sale.
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