Aahh...iNEXTV (AXC) The NEXT Thing! Message Board

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Technology Stocks : Aahh...iNEXTV (AXC) The NEXT Thing!

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To: Michael Olds who wrote (3443)	4/20/2001 4:44:24 PM
From: bootsup1	Read Replies (1) of 4169

I think Hal's right, Michael. The wash sale rule applies to all, traders and investors alike...and any loss in a given security cannot be written off or used to offset any gain in the given security if one purchases that same stock within 30 days. Solution is to trade in and out of a bunch of stocks or to set up an IRA or SEP/IRA account for day trading in which the wash rule becomes meaningless as there are no tax consequences in an IRA until one withdraws funds from it....at which time those funds are treated as ordinary income. I think this is all correct. btw, today's low volume in AXC must be pretty close to the record in dollar amount I'd think, fwiw....

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