. . . RE: WASH SALE. . . . . .
Kendall, Thanks for bringing up the Wash Sale Rule. I fully understand it. However in the context of my post it was not worth explaining further. It was only brought up to demonstrate the thinking of the fund managers with regard to their tax loss selling. And yes, wash sale rules apply to funds.
Perhaps 90 percent of those that read this board understand it fully as well. However, if you have noticed, I tend to throw ideas and concepts out there for the benefit of the 10 percent who do not fully understand it. That way they can jump on the internet and look it up and learn about it. I do appreciate your drawing attention to it.
However, I would not accept tax advise over the net, unless by a licensed tax professional. Once more, I really don't respect the Street.com in any way. They consistently fail to do their homework and research, satisfied to give one sided tunnel vision views. No way would I trust their research on taxes.
About Wash Sale Rule:
When it comes to something as important as tax advise, there are only two proper ways to advise readers. . . . To learn about things such as the Wash Sale Rule, first, "Consult your tax advisor" or second, link directly to the IRS: ftp.fedworld.gov
[This is an Acrobat .pdf file, so some of you may need to first download Adobe Acrobat from the Adobe website before proceeding. Page 51 begins the official explanation of Wash Sales.]
Thanks again,
Rande Is |
