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Technology Stocks : Vitesse Semiconductor
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To: SJS who wrote (3287)1/29/2000 12:15:00 PM
From: Jazz102  Read Replies (1) of 4710
 
You can buy back within thirty one days. You just have to defer the loss until the next time you sell the stock. e.g. If you have a $1,000 loss, then buy the stock back and make $2,000 your transaction is $2,000 gain minus the $1,000 loss carried forward = $1,000 reportable gain. (You record the original loss as a sale at same price as purchase showing net of $0, then add the $1,000 loss to your cost basis on the next purchase of same stock within 31 days.)
JAZZ
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