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Technology Stocks : Wind River going up, up, up!
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To: Allen Benn who wrote (2314)10/31/1997 3:55:00 AM
From: Anthony Tran  Read Replies (2) of 10309
 
Wash sale rule,

Let assume that John make a large profit by trading Wind during the first half of 1997 and recently repurchased x shares of Wind at $47. John plan to sell his x shares of Wind at loss with the current price at $37 so he can off-set his gain during the first half of 97 for tax purpose; however John does not like to loose the opportunity to get back to Wind within the next 30 days ( in case the stock starts to move back up). Can John purchase another x shares of Wind at the current price of $37 and at the same time sell his other x share of Wind at $37 (purchased at $47) that he currently has a so he can avoid the 30 days rule?

Really appreciate your feedback.

Anthony
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