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Biotech / Medical : NHTC
NHTC 4.350-1.8%Oct 31 9:30 AM EDT
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To: KZAP who wrote (11)11/16/1997 3:58:00 PM
From: Everett Bandman   of 27
 
KZAP,

Sorry to hear about your loss too. If you hear anything (positive or negative) from the company let me know by posting here or via email. Don't know how much your loss is but if you sell your shares you must wait 31 days before buying them back or else the IRS will not allow the loss on these transactions. You can also do this by buying an equal number of shares that you own, waiting the 31 days and then selling the original shares to claim the loss. You wind up with the same number of shares, a loss on the original shares you purchased (to offset any capital gains this year), and a new cost basis for the shares you own. For example I reduced my cost basis from 3 to 1/16 and will be able to use the loss this year to offset capital gains. At least this way the IRS partially will pay for my "learning" experience.
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