Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 183.78

-0.6%

Dec 10 3:59 PM EST

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To: snerd who wrote (7731)	2/4/1999 9:34:00 PM
From: Trader J	Read Replies (1) of 56535

Snerd: Yes, the first trade is the wash and the cost basis is carried forward. However, on my taxes, I don't even bother with the wash sale rule unless it carries over into the next tax year, in this case 99. If they audit me, I will just tell them....that the trades were settled in 1998 and it all comes out in the "wash". I only have 3 or 4 of them and it doesn't effect your return as long as you don't sell for a loss in Dec. and buy back within 30 days in Jan. TJ

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