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Non-Tech : The New Iomega '2000' Discussion Group

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To: Nancy McKinney who wrote (3367)	11/10/1999 2:37:00 PM
From: FruJu	Read Replies (2) of 5023

Someone please tell me, when you sell shares for tax loss, do you have to wait 30 days to buy them back, haha? You do have to wait 30 days if you want to take the tax loss in this year. If you want to get straight back in, you can adjust the basis on your new shares by the loss you took on your sale yesterday - but you won't be able to claim it on your taxes until you sell the new batch of shares. N.B. I'm not an accountant, but this is my understanding from reading the tax loss sale laws from the IRS. Someone please correct me if I'm wrong.

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