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Technology Stocks : PictureTel (PCTL)
PCTL 0.00010000.0%Jan 29 9:30 AM EST
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To: tony pham who wrote (73)11/23/1996 12:32:00 AM
From: Richard Ehrlich   of 920
 
Tony, the IRS doesn't allow you to sell shares for a tax loss, then buy the stock back in less than 30 days ( I think it's thirty). You can sell and then re-buy, but your tax basis in the stock will be the
sum of the first and second purchase prices , minus the first sale price. The "wash sale" loss is disallowed, I guess, to prevent you from flipping out and in to deprive the guv of taxes. I'm not an accountant, but I think this is right. Claro?
On PCTL, I bought because I have witnessed widespread recent growth in teleconfing among University research groups. Using remote manipulation of cameras, elmo's, zooming. Intel (or any) desktops won't hack it and need to save travel money means bright future. R.
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