Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • How to determine cost basis for securities using the default FIFO method versus specific identification. • The correct way to adjust a stock's per-share basis after a stock split or from reinvested dividends. • How the wash sale rule disallows a loss and requires an upward adjustment to the basis of the new shares. • The application of the $3,000 maximum annual capital loss deduction against ordinary income. • How to calculate the amount and determine the character of a capital loss carryover to future tax years. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep