substantially identical security


A designation applied by the US Internal Revenue Service to two securities that are fundamentally identical. This designation is used to disallow the claiming of capital losses due to tax swaps, or from the sale and repurchase of similar assets, in some circumstances.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
substantially equal periodic payments (SEPP) substitute