How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: VincentTH who wrote (7239)	4/10/1998 2:44:00 PM
From: Gary S.	Read Replies (1) of 14162

Hi Herm, Vincent or any other expert, I have a tax related question for you. What exactly is wash sale and hoe it works ? I know that it talks about the fact that if you have a loss in a security and you buy it back within 30 days then you can deduct your loss. I also hear that it doesn't apply if the trades are in the same tax year. Let see for example if i bought 5000 stocks on March 15. then I sell some of it (say 3000) at loss on April 1st and then later on I buy them back at lower price on April 17. Will the wash rule apply to that loss ? I will really appreciate your expert advice on that. Thanks in advance. ps: your right Vincent, even some of the tax preparers are not aware of these rule. Thanks for telling me about this thread.

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