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Technology Stocks : Network Appliance

NTAP 115.78

+3.1%

3:59 PM EST

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To: Mark Fleming who wrote (7438)	4/3/2001 10:33:20 AM
From: im a survivor	Read Replies (2) of 10934

Just make sure you check with your accountant concerning proper legalities of the 30 day wash rule.........the way it is worded, does not say you must wait 30 days before buying the exact stock back....it actually is worded more in a way that prevents one from selling for a loss and buying back within 30 days, a similar type investement......I am not an acct, so please check with one, but I know many that were screwed by the 30 day wash rule..they sold something for a al oss, thought they were buying something else, but irs considered them similar because they did the same thing, or something to that effect, and the original sale was not allowed to be taken as a loss.....they considered it re-entering a simalr position within 30 days, so they had to do the ole cost basis average.....so be careful if your selling ntapand buying calls, leaps or other similar securitites...your acct. should be able to verify...or the irs themselves. Keith

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