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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: xxxwiesia who wrote (39529)	12/28/2000 5:23:16 PM
From: Kip518	Read Replies (1) of 42787

bought company X, short term, sold lost $6000 same day bought same company X in another brokerage acct, so far im down $15,000 on 2nd. purchase. Can i do this?>>>not claim $6000 loss on 1st. buy & sell and instead use the $15,000 loss against my gains? i have not sold my 2nd. purchase yet. xxx, at the moment your loss on lot 2 is $21,000 -- $6,000 from wash sale + $15,000. You cannot take the loss on the first purchase (wash sale) until you sell lot 2. If you want that to be in 2000 you must sell tomorrow and DO NOT repurchase this stock again until at least January 31st. If you do not sell tomorrow, your $6,000 loss will continue into 2001 as part of the basis for current holding and cannot be realized until you file for 2001 in 2002 (assuming you sell the stock next year).

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