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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (2235)	7/2/1999 2:43:00 PM
From: Kaye Thomas	Read Replies (2) \| Respond to of 5810

It isn't clear how the wash sale rule applies when you have a long position in an option that you sell at a loss, and within the wash sale period buy another option with a different strike price and/or expiration. The reason is that the wash sale rule applies when securities are "substantially identical," and the IRS has yet to tell us what that means in this context. For more on this subject visit this page: fairmark.com Kaye Thomas, author Fairmark Press Tax Guide for Investors fairmark.com