CNSI Cambridge Neuroscience Message Board

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Biotech / Medical : CNSI Cambridge Neuroscience

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To: BlueCheap who wrote (284)	10/9/1997 9:32:00 AM
From: Green Receipt	of 675

How do the tax consequences work out for the short term gains? I can't imagine its very friendly. I tend to go for the long haul on stocks (I got WCOM when it was in the teens and still hold it). I have some of the brkb shares (the cheap ones) too. I got burned in 87 when the whole market dropped. At that point in time I was doing all my trades with preset computer high/low values. When the bottom dropped out all my stuff sold way below my low sell points. Since then I tend to stick with valueline stocks only (although I have yhoo since it IPO'd and have sold twice but am back in again). Having now experienced the 20 day turnaround, it makes me sad the government is going to take its 'fair' share.... I do have one item in my favor in that I own TCHP shares that I got when it was about $5 a share (pre reverse split prices) that are now worth about $2.40 (Total or 1 penny a share). I read somewhere If I declare them worthless the IRS will let me write off the entire cost of them (which will change the basis since I still own them). I figure this loss can offset the gain I got in my 20 day turnaround and lower my tax burden. David

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