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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks
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To: bob beck who wrote (7951)11/29/1996 11:47:00 PM
From: Kevin Ameling   of 13351
 
Sorry Bob that won't work, here's why:

Wash Sale

A sale that occurs when an investor takes a loss on the sale of a security and, within 30 days before or after taking the loss, purchases the same or a substantially identical security. The IRS does not allow taxpayers to deduct a loss under these conditions. Their intent is to prevent a taxpayer from deducting a loss on his tax return when his financial position remains the same after the loss.

Later,
Kevin
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