Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Nasty P who wrote (159)	11/20/1997 4:03:00 PM
From: hpeace	Read Replies (3) of 5810

tax question. during the oct fall back my cost on atml has fallen.. I had puts so, I'll have to report that as income... but, can I buy a jan 25 call on atml and then sell my atml stk and take the loss on atml stk to offsite 1997 capital gains.. do I need to buy the jan calls first or can I buy them at any time??? is there a timing issue on selling the stk... I know I have to be out of stk for 30 days in order to keep it from being wash sale.. thanks I scanned through the tread and couldn't find this question but it's got to be there somewhere I read the code and it seems if I buy the jan 25 call on atml today and sell the stk next week then it's okay . as long as I buy the call before I sell the stk.

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