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wash sale
noun
- a sale of a stock at a loss and repurchase of the same or substantially identical stock within 30 days, for which the capital loss is disallowed for tax purposes.
- the simultaneous purchase and sale of large amounts of a stock or commodity by the same speculator so as to give a false appearance of wide market activity and interest in the stock or commodity.
wash sale
noun
- the illegal stock-exchange practice of buying and selling the same securities at an inflated price through a colluding broker to give the impression that the security has a strong market
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Word History and Origins
Origin of wash sale1
An Americanism dating back to 1840–50
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