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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: michael meyers who wrote (4585)4/13/1998 12:51:00 PM
From: Trebor  Read Replies (2) of 42834
 
If my tax man wasn't swamped right now I'd ask him because I'd really to know if this technique is permissable. And if so, would it apply to mutual funds as well as stocks? Legal or not, I think it would be very unlikely to catch the IRS's attention, unless it turned up during an audit. For example, if I own 500 shares of XYZ, buy 500 more today and sell 500 tomorrow, how would the IRS know this wasn't just one of my typical bonehead trades?
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