CNN Business interviewed Tax Principal Michael D’Addio for an article about year-end tax strategies.
By Jeanne Sahadi
In either case, “beware the wash-sale rule,” said Michael D’Addio, a principal at tax and advisory firm Marcum LLP. Under that rule, you are not allowed to buy a substantially similar security to the one you just sold at a loss for 30 days.
“So you’ll have to wait 30 days [before repositioning your portfolio],” he said.