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Strategies & Market Trends : Options
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To: edamo who wrote (6232)4/9/2000 9:29:00 PM
From: rkral  Read Replies (1) of 8096
 
Edamo ... "wash sales"

Wouldn't you be upset if you found out your broker believed you were about to trigger a wash sale ... and didn't warn you? I would. In this situation, I think it's good form and ethical for a broker to give his honest opinion and then defer to a client's tax advisor.

Are you suggesting that ... selling common at a loss ... and buying a call on the same common within 30 days of the loss sale ... is not adequately specified as a wash sale by IRS Publication 550? You want an IRS ruling also?

'irs "ruling" in totality on options transactions ' ... It may not happen in our lifetimes.

For the situation you seem to have the most interest in ... selling common at a loss ... selling a put ... and then being assigned the put within 30 days of the loss sale ...... have you considered the possibility that the wash sale rule may already be triggered when selling the put within 30 days of the loss sale?

Regards,
Ron
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