Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: CrazyRay who wrote (1853)	2/7/1999 11:48:00 PM
From: Colin Cody	Read Replies (3) of 5810

Ray, Can I do this? Sell enough stock to pay back the [margin] loan plus the amount I want to withdrawal. Withdrawal the cash. Now repurchase the stocks back with less equity(possibly 80% now). I have absolutely no problem with this. I would prefer you let a period of time elapse between the sale and the repurchase. At least until you have your cash taken OUT of the account, deposited into your checking account, and cleared funds, and even better say 15 days or so. You might take even MORE cash out now (buy selling more stock now) and put it in checking, so you wont have the problem down the road. You might get lucky and even buy back at a cheaper price! Colin

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