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Strategies & Market Trends : Sharck Soup
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To: GHOST TRADER who wrote (14587)4/4/2001 10:46:00 AM
From: fswep   of 37746
 
Cosmo,

Commissions are an expense.

Don't completely write off your wash sale.

Read the rulings carefully. You add (defer) the loss to your basis on the repurchased stock, also your holding period (HP). So if for example you have 11 months HP on the old stock and you hold the new stock for more than 1 month you could be eligible for the long term capital gain rate on any gains.

I repeat read the rulings carefully. Accountants are helpful here.

This is only in individual accounts, one way to avoid the wash sale rule is to repurchase the stock in an IRA account. Losses cannot be counted there nor commissions.

Ward
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