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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Sully- who wrote (723)5/22/2001 2:56:36 AM
From: waverider   of 5205
 
Did a lot of research on this.

The IRS is NOT clear, so if you play wash sale games and are audited, you will probably have to have a court decide.

The bottom line is if you take a loss on any sale or buy back, you can not return to ANY investment related to that original thingie and still claim the loss unless you 31 days. So, for example, you can't jump from a stock (loss) to option on the same stock and claim the loss unless you wait 31 days.

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