Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Sonki who wrote (320)	12/26/1997 7:11:00 PM
From: RWalker	Read Replies (3) of 5810

Can someone help me out here please? I bought a stock xxx one morning and as it went down by a point after an hour, I closed my position with a small loss. A few hours later I bought the stock again but as it went down further, I once again closed my position with a loss. I have not traded that stock ever since. Now can I write the loss off in my tax return or will it be a wash sale? (I did not hold any position in that stock before that day or after that day. I held the stock just for a few minutes on that day alone.) Please let me know whether the loss can be written off. Any other tax related tips will be appreciated. Wishing you all Happy New Year. Thanks in advance

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