Tokyo Joe's Cafe / Societe Anonyme/No Pennies Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: BarbaraT who wrote (27226)	12/13/1998 6:49:00 PM
From: GT	Read Replies (1) of 119973

WASH SALE INFO Barbara - what greg stated is not really correct. If you lost on a stock and buy it right back you would still subtract the earlier loss from any future gains. However if you don't close the position before the end of this year (allow three days for settlement), the whole thing goes on next years tax's. Also if you buy back in 1999 - but within 31 days of the loss sale date, then you could not take the earlier loss in 1998 - but would have to wait to take the loss in the year you sell the current position in the stock. This is how I understand it - although I am no tax expert. There are a number of tax threads here on SI. Gorcon

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