TAXES, TAXATION, TAX and Canadian stocks Message Board

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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks

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To: Sans Souci who started this subject	12/16/2002 2:02:33 PM
From: Chad Barrett	Read Replies (1) of 548

Here's a silly question (if there is such a thing?)... There is a rule against re-buying a stock for 30 days if you want to use the "loss" for tax purposes... However... let's say you were down overall on the year thus far due to selling an old dog, but were holding numerous stocks that have gains that would more than cancel out the loss - IF you sell them. Is it perfectly legit to sell those stocks and then immediately buy them back (theoretically at a slightly lower price to negate the commissions), but book the gains from the sale this year? In doing so, it would avoid the headache of rolling over the loss to future years, and potentially book some gains in a year (this year) where it would be more favorable to do so (than in future years). I don't see anything wrong with this scenerio but just wanted to check in case there is some tax issue that could come in to play? Thanks

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