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Non-Tech : The New Iomega '2000' Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Nancy McKinney who wrote (3367)	11/10/1999 11:23:00 AM
From: Pacing The Cage	Read Replies (1) \| Respond to of 5023

>>I sold the bulk of my shares held since '96 yesterday at a huge loss<< I thought I was the only one that had that sort of power over stocks!

To: Nancy McKinney who wrote (3367)	11/10/1999 12:24:00 PM
From: Naggrachi	Read Replies (1) \| Respond to of 5023

Maxtor announced prices increases. Goldman Sacks (I think,) upgraded a bunch of companies today, sighting improved fundi's. <<Can anyone relate?>> I bought ARBA a couple of weeks ago @ $152 and sold 3 days later @ 157 because the stock wasn't moving fast enough, guess what? ARBA was up $21 yesterday and closed @ $202. On the other hand, I've been long IOM since '96 @ $7 cost basis. The reason I'm still holding is I want to use the loss against future gains. However, I don't see myself selling NOK anytime soon. On the other hand, CPQ just announced an Imac colone called Ipaq without a floppy. Zead

To: Nancy McKinney who wrote (3367)	11/10/1999 2:37:00 PM
From: FruJu	Read Replies (2) \| Respond to of 5023

Someone please tell me, when you sell shares for tax loss, do you have to wait 30 days to buy them back, haha? You do have to wait 30 days if you want to take the tax loss in this year. If you want to get straight back in, you can adjust the basis on your new shares by the loss you took on your sale yesterday - but you won't be able to claim it on your taxes until you sell the new batch of shares. N.B. I'm not an accountant, but this is my understanding from reading the tax loss sale laws from the IRS. Someone please correct me if I'm wrong.