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Technology Stocks : NEXTEL
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To: Rob Prickett who wrote (4034)1/9/1998 12:41:00 PM
From: Al Gutkin  Read Replies (1) of 10227
 
Rob: Wash sale rules only apply when there is a loss, read on.

Wash sale provisions were designed to prevent investors from realizing paper losses. Gains are OK. The stock has to be matched, of course.

So if you sold Nextel stock on the 31st at a gain, you report the gain, even if you bought it back. If you sold at a loss on the 31st, you move the loss forward by adding to the basis of the new purchase.

Regards

a more official, Al

s
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