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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.44-0.4%2:17 PM EST
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To: Bux who wrote (50012)11/15/1999 10:55:00 AM
From: JGoren  Read Replies (1) of 152472
 
Purchase and sale of same stock within 30 days is a wash sale, and you cannot take a loss, but if there is gain you still get taxed. With respect to a loss, I think it goes to reduce your basis; in other words, it's treated as buying down your basis.

Has anyone looked carefully at volume. In first hour over 4 million shares. Topped at 406 and now stock has receded, which is to be expected with the opening rush of buyers.
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