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Technology Stocks : Compaq
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To: JGibbs who wrote (22349)3/17/1998 11:05:00 PM
From: Greg Jung  Read Replies (2) of 97611
 
(wash rule)

You have to either be divested (of the amount you sell) or doubly invested for a period of 30 days in order to declare a loss in 1998.

If you already have short-term gains for the year against which you can deduct, under the presumption that it stays low for a month you could sell, wait 30 days, then buy. Or at some point you buy an amount equal to what you would sell, hold the extra stock for 30 days, then sell the half you are thinking of selling now. Also, you can't get around it by holding cpq options.

If you need to go on margin to do this, and you don't have the resources to stay long on the double, then your arm is halfway into the monkey trap - its like a "double or nothing" bet in the market.

Greg
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