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: Gorak Shep who wrote (805)	3/28/1998 1:41:00 PM
From: Christopher Reed	Read Replies (1) of 5810

New Question: First I apologize for not scanning the thread to see if this question has been answered before. This is a question related to the opposite of the wash rule. I expect to have short term gains this year. (Don't we all) My thought is to increase my position in a stock which I expect to take off. (ASND) but I have some shares which I bought last year that are at a higher cost than the current price. I am generally a long term investor and not a trader. Can I buy more shares now and later (soon) sell the old expensive shares and use the short term loss to offset other short gains. After this action I should end up with the same amount of shares. I will talk to my accountant but she is very busy and she seems to charge double for advice during tax season. (Her answers are "free" otherwise <ggg> ) Also does this move make sense? TIA. Cheers.. Chris.

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