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Is it a wash sale if I sold an asset and then received the same asset as income a few days later at a higher price
AI accountant’s answer:
The wash sale rule applies when you sell a security (such as stocks or bonds) at a loss and then buy a substantially identical security within 30 days before or after the sale. In your case, you sold an asset and then received the same asset as income a few days later.
Based on the information provided, this situation may not be considered a wash sale if you didn’t actually repurchase the asset yourself, but instead, received it as income. However, specifics of the situation may influence the determination of whether it's a wash sale, so consider your individual circumstances and consult IRS guidance on wash sales or conduct further research.
Comment from reviewer
This is broadly right, but I would add that the wash sale rule applies if the security is purchased by your spouse, a corporation controlled by you, or a partnership in which the investor is a partner.
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