Qualcomm Incorporated (QCOM) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 175.07

+2.6%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bux who wrote (50038)	11/15/1999 11:29:00 AM
From: Sawtooth	Read Replies (1) of 152472

<< Does it matter which came first, the purchase or the sale? In the example, the stock was presumably held more than 30 days and had run up, then sold, then repurchased at the same price as the recent sale.>> Standard Disclaimer: Not offering tax advice here, just my opinion. Contact your tax advisor. Basically, the fundamental concept is the IRS wants its money on a gain ASAP. In your example, the way I understand it is the tax on the gain realized would be due. If you had sold at a loss, then repurchased, the wash sale rule kicks in (depending on the days since sale and repurchase) and you do not get any tax benefit from the "loss"; your basis in the stock remains the same as your first purchase price (adjusted for comm's). If you want to use the loss for tax purposes, wait the required period before replacing the sold stock with a purchase. Standard Disclaimer: Not offering tax advice here, just my opinion. Contact your tax advisor. Don't eat yellow snow. Etc. .........VVVVVVVVVVVVVVV

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next