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


To: Colin Cody who wrote (2348)11/5/1999 11:39:00 AM
From: crh02  Read Replies (1) | Respond to of 5810
 
Re "wash sales:" If an investor repurchases a stock within 30-days of selling the same issue at a loss, then must he treat the loss as a reduction to the price paid for the new shares?



To: Colin Cody who wrote (2348)11/5/1999 12:16:00 PM
From: Stan Michael  Read Replies (1) | Respond to of 5810
 
Colin,
Regarding wash sales -- if I sold a long term holding at a loss, repurchased the stock within the 30-day window, and subsequently resold within one year of the repurchase, would this be treated at a short-term or long-term transaction. In other words, could this technique be used to convert a long-term loss to a short-term loss or would the original holding period override? Or is this just an invitation to get my hand-slapped?
--Stan