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Technology Stocks : JDS Uniphase (JDSU)
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To: Mark Fleming who wrote (20016)4/11/2001 7:53:45 PM
From: djia101362  Read Replies (1) of 24042
 
There are no disallowances for "similar" stocks. The tax law is clear and wash sales only apply to "substantially identical" securities.

There is no "substantially indentical" stock unless you buy the exact same stock. The only exception to this is if you buy companies tied to a merger agreement. i.e. Selling JDSU at a loss last year and buying SDLI would have been considered a wash sale.

When it comes to options, the law is unclear whether options w/ different strikes or expiration dates for the same underlying security fall under the definition of "substantially identical" securities.

If you are an active trader and do not have any long-term holdings, you should make a 475 election and the wash sale rules would not even apply to you. The 475 election for this year needs to be made by April 15, 2001.

Consult w/ your tax advisor.
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