IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Kaye Thomas who wrote (566)	11/28/1998 9:36:00 AM
From: Bruno Galliano	Read Replies (1) of 1383

Kaye or Colin Earlier I had requested some information on the wash rule. I in reading your answer believe the following to be true. You gave several ways that one would be exempt from the wash rules. The one that seemed the simplest to implement, was for a trader NOT to trade for 31 days from any time in December of the current year and into the following year. Now that tax time and December are upon us I would like if possible some clarificaton. Does this method then wipe out any and or all wash sales from within the current year prior to December, say in March or April of this current year 1998. If so why. Every time I try to reason to myself why this would be true, I think why would the IRS allow this loophole. I will take a much needed vacation fir the next 31 days, if the above is true.<grin>

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