Unknowingly we incurred Wash Sale losses which were "lost" to us as we bought back into them within 30 days or had traded with 30 days prior ( accounts are ordinary, not IRA, etc) - many of these concern stocks which we will probably invest in again ( in some cases we have). The question is.....in order to recapture these " lost losses" where we are not in the stock now but like it and will buy it back again, do we need to buy back in again " before" the year's end in order to add the Wash sale losses back as part of our cost basis - or do the Wash Sale losses carry over into 2008?
Thanks in advance for any help Hauslohn