In order to offset some downside risk I have purchased SQQQ shares throughout the year. It’s almost end of 2019 and I find NASDQ is at all time high. As a result I would like to sell SQQQ share and claim loss for tax benefit.
I know there is a 30 days wash sell rule. If I sell my share at a loss and buy it back within 30 days, I will not be qualified for claiming the tax benefit.
However, I would like to keep the security SQQQ provided to my portfolio while claim the loss. As I am having extra cash available, I would like to check if I can buy the same number of new SQQQ shares before sell my old ones. Will this strategy help me get away with wash selling?