Ultratech Stepper Message Board

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Technology Stocks : Ultratech Stepper

UTEK 30.23

0.0%

Jun 5 5:00 PM EST

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To: Dr. Anthony Keyodo who wrote (2757)	10/3/1998 9:10:00 PM
From: Bill Martin	Read Replies (1) of 3696

Re: If I purchase a stock with personal money which takes a hit from 30 to 15. Can I sell, deduct the loss and on the same day purchase shares into a Sep-Ira? I keep seeing this question come up at various places with no definitive answer. I believe that this is one of those things which only the IRS knows for sure and they're not talking. You might try calling the "new kinder, gentler" IRS and asking them for an opinion. Of course whatever they tell you isn't legally binding -- they can still penalize you later for following their faulty advise, but at least it shows good faith. The purpose of the wash sale rule is to keep you from showing a tax loss while continuing to own the stock. Arguably this is what you're doing with your IRA account, and thus is not permissible. Only the IRS knows for sure .... Plese let us know if you find a definitive answer. Bill Martin

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