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: Benchman who wrote (11249)	7/20/1999 11:22:00 AM
From: FruJu	Read Replies (1) of 14162

Benchman Even if such transactions did count as wash sales (the IRS could easily issue an edict saying they were), a wash sale only prevents you from taking the loss in that immediate tax year. So long as you still hold the underlying security, any disallowed "wash sale loss" can still be claimed as an effective loss when you eventually DO sell the underlying security, since wash sale losses are added to the cost basis of the underlying stock when figuring your final gain as you exit the position in a security.

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