Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 220.42

+4.9%

Dec 12 9:30 AM EST

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To: Tim Luke who wrote (52163)	8/14/1998 6:31:00 PM
From: fiberman	Read Replies (1) of 61433

****OT******** I have a tax question, and I am hoping that you, or someone else on this thread can help me out. My question has to do with tax losses. For example, I have an account with Datek, under sole-propritorship. I own 1000 shares of a stock which I bought at different times during last year with an average cost of $40.00. Unfortunatelly it has dropped to $20. Can I sell these 1000 shares and take a loss of $20,000? For how long do I have to stay out of this stock to qualify? Is that 30 days, or 45 days? Are these "Business Days", or "Calender Days"? Also I do know that an individual is limited to a maximum of $3000/Yr, but I am trading under a company name under sole-propritorship. Is it different? Can I use the entire $20,000 as loss, and deduct it from other income? My side business company is involved in brokering I.C.s and has done O.K. this year, but I have lost my shirt trying to trade. Thanks for your help. I really DO apprecaite it friends. I did call IRS, but they gave me the run arounds.

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