Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE! Message Board

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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE!

RACE 338.53

+0.3%

Jan 23 9:30 AM EST

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To: MadMax who wrote (26106)	11/28/1997 1:35:00 PM
From: mike.com	Read Replies (2) of 33268

Here's a strategy but I am not sure if it falls within the IRS rules though it seems logical to me. Say you are sitting on 10,000 shares you payed $10 for earlier in the year. With the stock around $5 you effectively have a loss of $50,000. Now to claim the loss can't you purchase 10,000 more shares and sell the other 10,000 the next day? I know the IRS recognizes a first in first out rule so this would seem to be a logical way to take the loss without losing your position in the stock for 30 days. Is this legal? I'm certainly no tax expert.

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