Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: ejsdad who wrote (2251)	7/5/1999 8:38:00 PM
From: Kaye Thomas	Read Replies (1) of 5810

Expanding slightly on that correct one-word answer, the wash sale rule actually does three things: disallow the loss, adjust the basis of the replacement stock, and . . . "tack" the holding period from the old stock to the replacement stock. If the "loss" stock was long-term, the replacement stock will be long-term, too. There's quite an extensive guide to the wash sale rule on my web site (under the guide to capital gain and loss). Also, I've had an amazing number of questions on this topic on the message board there, which you can browse by doing a search for "wash". I'm not suggesting that the discussion here should move there (this is a far better service than I can provide), but just pointing out that there's a wealth of information available. Kaye Thomas, author Fairmark Press Tax Guide for Investors fairmark.com

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