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: Colin Cody who wrote (223)	11/28/1997 11:08:00 PM
From: Nittany Lion	Read Replies (2) of 5810

Colin, I posted this last week to another thread in regards to this subject: <<From CCH, 97FTG Para. 5484 Substantially Identical Securities. "The wash sale provisions apply to the denial of a loss if the securities acquired are substantially identical to those sold or disposed of. For example, when a taxpayer sells a stock purchase warrant at a loss and, within 30 days, purchases stock in the same corporation, the wash sale rules apply only where the relative values and price changes are so similar as to make the stock warrant substantially identical to the newly acquired stock." >> It appears to me that the issue comes down to "relative value". And, in the situation that WSB referred the stock is selling for $6 and the warrant $1(warrant plus $5 = 1 share of stock). With everything I've read I'm still not sure, although I think it could be argued either way. Gary

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