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To: Ga Bard who wrote (130)7/25/1999 11:07:00 PM
From: lakers17  Read Replies (1) | Respond to of 179
 
Bard......

I'm pretty sure that is right. If you buy back the same stock within thirty days of taking a loss you can't write off the loss. What would stop anyone from selling any current losers to offset capital gains and then buying the stock back the next day? You can't do this. If you don't buy the stock back within the 30 day window the loss stands. Any accountants out there?

Lakers



To: Ga Bard who wrote (130)7/26/1999 12:38:00 AM
From: Gary S  Read Replies (1) | Respond to of 179
 
Ga Bard,

Never heard of a 30 day scenario.

It's called a "wash sale". Here's everything you need to know about it:

fairmark.com