"Similar securities"

Discussion in 'Trading' started by IronFist, Oct 18, 2006.

  1. Can you own SPY and SSO at the same time? I mean they're both kinda the same thing...

    If you buy SPY and sell it at a loss, and then buy SSO less than 30 days after, does that count as a wash sale? They're similiar securities.
  2. I would guess you would be OK, they are different funds.

  3. bubbrubb


    I would expect the IRS to rule that if they are based on the same index, they are substantially identical. Otherwise I bet you're good.
  4. You are good, otherwise, everything else would be a wash sale.