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Technology Stocks : Netscape -- Giant Killer or Flash in the Pan?
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To: Barry Dryer who wrote (2496)2/13/1998 10:27:00 PM
From: grasshopper   of 4903
 
Barry, the statement, 'the wash rule only comes into
play if there is a loss',
is correct,
but that doesn't mean that the 'loss'
couldn't be inccurred from the SECOND purchase
of a stock within a 30 day period of the FIRST
purchase.

I STRONGLY SUGGEST YOU DISCUSS THIS
WITH A PROFESSIONAL instead of spreading
the WRONG INFORMATION to other novices.

One could deduct a loss that is NOT ALLOWED,
and a few years could pass before the IRS hits
one with a HUGE compounded back tax bill.
You don't want that to happen.

best wishes,
grasshopper
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