fb-wash-0001
{
"shares_sold": 100,
"sale_proceeds_per_share": 32,
"basis_per_share": 47,
"replacement_shares_in_window": 100,
"facts": "A taxable brokerage account sells 100 shares of XYZ common stock at a loss and buys 100 shares of the same XYZ common stock 12 days later. The taxpayer is not a dealer in stock or securities."
}How many dollars of the realized loss are disallowed under the wash-sale rule of section 1091? Respond with the numeric amount only.
1500 USD (tolerance ±0.01)
Produced by compute washsale.disallowed-loss in src/lib/fiduciarybench/keys/index.ts — the stored value is machine-checked against the compute on every build; it cannot drift from its own code.
All 100 shares' loss is disallowed: 100 replacement shares match all 100 sold shares within the 61-day window.
“within a period beginning 30 days before the date of such sale or disposition and ending 30 days after such date, the taxpayer has acquired (by purchase or by an exchange on which the entire amount of gain or loss was recognized by law), or has entered into a contract or option so to acquire, substantially identical stock or securities, then no deduction shall be allowed”
Each quoted passage is exact-matched, after typographic normalization, against the corpus text fetched from the issuing authority (hashes in the corpus manifest). An item whose quote stops matching fails the build.
“within a period beginning 30 days before the date of such sale or disposition and ending 30 days after such date, the taxpayer has acquired (by purchase or by an exchange on which the entire amount of gain or loss was recognized by law), or has entered into a contract or option so to acquire, substantially identical stock or securities, then no deduction shall be allowed” — usc-1091
The realized loss on the sale is calculated as the difference between the basis and the sale proceeds per share, multiplied by the number of shares: (47 - 32) * 100 = 1500. Because the taxpayer acquired 100 shares of the same stock 12 days later (which is within the 30-day window) and is not a dealer, the entire realized loss of $1500 is disallowed under 26 USC 1091(a). The key's value of 1500 is correct.
“then no deduction shall be allowed under section 165 unless the taxpayer is a dealer in stock or securities and the loss is sustained in a transaction made in the ordinary course of such business.” — usc-1091
Realized loss per share is $47 - $32 = $15, so total realized loss is $15 x 100 = $1,500. The taxpayer acquired 100 identical shares 12 days after the sale, within the 30-day window, and is not a dealer. Under section 1091(a), no deduction is allowed for that loss, so the entire $1,500 is disallowed.
v1; no errata. Demonstrate a key error and the correction is published here, credited — challenge policy.