IRS, Tax related strategies--Traders Message Board

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

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To: Tom Hua who wrote (549)	11/29/1998 3:28:00 PM
From: dykerted	Read Replies (2) of 1383

Sorry to bring up a past conversation but I would appreciate some help regarding my situation. I have some gains this year which I have already taken. I am also holding a loser internet stock which I bought at $4 and is now at $1. I would like to sell the internet stock to offset the year's gains but with the internet stocks blasting off, I do not want to miss out on a run-up. I want to avoid a wash sale to take the loss credit against my gain. Can I sell the stock (thus taking the loss), buy it right back (and not miss out on a run-up) and worry about the wash sale in 1999? How is the sale represented in 1999? Thanks a lot!

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