Trader J's Inner Circle Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trader J's Inner Circle

NVDA 182.55

+2.0%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Baghul who wrote (97)	11/7/1998 7:40:00 AM
From: kendall harmon	of 56535

Just to hammer home the point about the wash sale rule, I quote from JK Lasser's income tax guide 1997, p. 429: "Although the loss deduction is barred if the wash sale rule applies, the economic loss is not forfeited for tax purposes. The loss might be realized at a later date when the repurchased stock is sold, because after the disallowance of the loss, the cost basis of the new lot is fixed as the basis of the new lot and adjusted (up or down) for the difference between the selling price of the old stock and the purchase price of the new stock...."

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next