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Technology Stocks : LSI Corporation

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To: Jock Hutchinson who wrote (19564)7/31/1999 9:30:00 AM
From: Jazz102  Read Replies (2) of 25814
 
Could you clarify the wash sale rule for me. If you sell a stock at a profit and repurchase it before 30 days, can you roll your profit over into the next purchase? I don't think it works like that. Uncle Sam wants money whenever we have taken a profit. I know you can roll the loss into the next purchase within 30 days of same stock to create a wash sale. Please explain. Thanks
JAZZ
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