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Gold/Mining/Energy : Royal Oak-RYO

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To: roger fontaine who wrote (502)	11/25/1997 10:41:00 PM
From: Richard Saunders	Read Replies (1) of 1706

Roger/ not meaning or wanting to get into a tax tangent. You are right about it being possible to sell in December and then purchase the same thing in January provided the 30 calendar day window isn't broken....... you're also right about the use of capital losses - they can only be used to reduce previous capital gains OR added to your personal capital loss pool to offset future gains. There's a carryback restriction, I think it's 3 years but make sure you check tax rules, there's no restriction on loss carry-forwards. If someone is wondering about the superficial loss angle there was a decent (imo) article in Nov. 1/97 (page B20) Globe & Mail. "Make sure your capital losses are not superficial. Pitfalls to avoid when selling investments." Also food for tho't........... Barrick Gold at less than $25? TVX at less than $2.50? Doom and gloom or what?...........

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