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Technology Stocks : All About Sun Microsystems
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To: Alok Sinha who wrote (15110)3/31/1999 1:08:00 PM
From: JDN  Read Replies (1) of 64865
 
Dear Alok: For capital gains purposes IRS classifications for wash sales (i.e. if you buy back the securities that you sold within 30 days)only apply if
you have a loss.

I am not quite sure what you mean above, but as I understand it if you have a loss and buy the stock back within 30 days you cannot report the loss, you can only add it to the basis of your new stock. On the other hand if you have a gain, its still a gain which must be reported whether or not you buy it back within 30 days. JDN
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