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

To: Kaye Thomas who wrote (2341)	10/22/1999 5:10:00 PM
From: Slow&steady	Read Replies (1) \| Respond to of 5810

Wash sales question to any qualified tax expert. I trade frequently as many do here on SI, and I was concerned about the wash sale rule. However, it seems that since you add the loss to the cost of the new stock, in the end of the year, it still works out the same: you basically still always get to write off the loss, just not at the time you take the loss. A wash sale only seems to matter if you traded at of the end of the year and then traded the stock within 30 days [in january of the following year]. It seems to work out the same as making a total profit-total loss [excluding end of the year sales] = net profit/loss. Am I interpreting this correctly? Or is there some situation in which you never are allowed to write off the loss? Thanks.