If a trader sells a stock at a profit, then re-enters that stock a week later and sells at a loss. Can he claim the loss OR is it a Wash Sale?
It does not sound like a "wash sale" to me, generally a "wash sale" is the repurchase of a stock after you took a loss. This is the opposite, if you are paying tax on the gain, then the loss should be deductible. http://www.fairmark.com/capgain/wash/ws101.htm