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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: ftian who wrote (91148)7/3/2002 11:08:56 PM
From: Larry Brubaker  Read Replies (1) of 99280
 
<<Then the sale
for the loss is wash sale. Do you worry that you may not be
allowed to deduct the loss from your tax?>>

A wash sale doesn't stop you from taking the loss, it just delays it until the next trade. If you have a disallowed loss from a wash sale on one trade, on the next trade you increase the basis of your purchase price by the amount of the disallowed loss on the wash sale (IOW, the loss from the previous trade decreases your gain or increases your loss on the next trade).
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