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Technology Stocks : Peapod (PPOD)

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To: DADEPFAN who wrote (437)	11/10/1998 10:54:00 AM
From: grasshopper	Read Replies (1) of 1170

DADEPFAN, "a QUICK & DIRTY TAX LESSON, huh?" . . . . OK. When you sell a stock for a LOSS, you can NOT BUY the same stock back within 30 days BEFORE or AFTER the date you sold that stock for that loss. If you do, you are prohibited from taking any gains you may make on this purchase against that loss. This is known as the "wash rule". You can contact the IRS directly for any needed clarification.(1-800-TAX-1040) When December comes, it is usually a good idea (if you have sold for captured gains earlier in the year) to sell your loosing positions off in order to offset your upcoming tax liabilty. Remember, you shouldn't repurchase that same stock until 30 days have passed (wash rule). The abovee two tips apply ONLY for taxable accounts, NOT tax deferred accounts such as an IRS retirement account. How's that? grasshopper

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