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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Patrick Slevin who wrote (3741)12/29/1999 8:47:00 AM
From: Logain Ablar  Read Replies (2) of 9427
 
Hi Patrick:

To help clear this up and narrow your search on the IRS web site go to code section 1091(a) and Treasury Regulation Section 1.1091-1. You'll find:

Wash Sale Losses Denied "A loss sustained upon a sale or other disposition of stock or securities is not allowed if, within a period beginning 30 days before the date of the sale or disposition and ending 30 days after that date, the taxpayer has acquired, or has entered into a contract or option to acquire, substantially identical stock or securities."

Thats why I indicated the 31 days. You can't fall within the 30 or you fall under the wash sale rule. The regs spell it out (but I don't have access to them until I go back to my office next week).

Hope this helps.

Tim
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