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: Lee Lichterman III who wrote (804)	3/28/1998 1:10:00 PM
From: Gorak Shep	Read Replies (2) of 5810

L3, you cannot defer the gain like you must defer the loss on a wash sale (buying back within 30 days). Why? Because the IRS wants the taxes on the gain but does not want you to sell and then buy right back in to realize a loss that might offset other gains for which they want the taxes. Logically? With the IRS, that's an oxymoron. They don't have to be logical.

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