A wash sale occurs when a security is sold, and then the same security (or a similar one) is repurchased within 30 days. Any losses incurred during a wash sale cannot be deducted from your taxes. If you sell securities in an external non-Ellevest account and then buy the same or similar securities in your Ellevest portfolio, a wash sale has occurred. Ellevest will review your ACATS transfer and retain any existing ETF/ mutual funds that will used as part of your asset allocation to your goals. You can read more on the IRS website here.