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Microcap & Penny Stocks : Universal Medical Sytems (UMSI)
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To: GeneM who wrote (825)1/6/1998 8:51:00 PM
From: Dan Dieffenwierth  Read Replies (2) of 1672
 
GeneM, does the 31 day wait only apply if you re-buy the same
stock? Can you sell for a loss and use that money to purchase
a different stock right away and still get the loss? If this
is so and with very little promise showing with UMSI right now,
why would someone re-buy into this stock when they could put
it in another one with a better outlook? If this is not so how
would the IRS be able to tell whether you used the same money
to purchase the other stock? I'm just wondering how many of
the one's that sold for a tax loss will re-buy this one instead
of buying into a better one?
What do you think? Or anybody else?
Dan
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