A taxpayer sells 100 shares of X Corp. at a loss on December 15, 2012. Which of the following acquisition dates for acquiring substantially identical stock will not trigger the wash sale rule?
a. Incorrect. The 30-day wash sale period applies to purchases of substantially identical stock within 30 days before the sale, which would be
November 15, 2012.
b. Incorrect. The fact that a purchase of substantially identical stock takes place in the following tax year, January 1, 2013, does not make it extend beyond the wash sale period.
c. Incorrect. January 14, 2013, is exactly 30 days from the date of the sale at a loss, so it is not beyond the 30-day wash sale period.
d. Correct. January 15, 2013, is the first day that is outside of the 30-day wash sale period.