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To: RuIrish57 who wrote (17270)	3/15/2000 6:38:00 PM
From: JavaGuy	Read Replies (1) \| Respond to of 19700

? If an investor sell's a stock for a profit does he have to wait 30 days before he can buy the same stock back. You buy and sell as often as you wish, as long as you can pay for it (no free-riding). I think you are thinking of the wash sale rule that only applies to capital losses. IF you sell a stock at a loss and buy it back w/in 30 days you can't take the cap loss, you just change the basis of the new shares. Hope that helps. -JG

To: RuIrish57 who wrote (17270)	3/15/2000 8:31:00 PM
From: Mark Peterson CPA	Read Replies (1) \| Respond to of 19700

RuIrish, Whenever an investor sells a stock for a profit, he doesn't have to wait 30 days before he can buy the same stock back. He can buy it back a split second after he sells it. Or 10 years later. As you probably know, most Irish view the world from a different point of view. What you're suggesting is tantamount to having a "Wash Gain" rule. The one that currently exists that the IRS likes to nudge about is the wash sales rule. As an Irishman, you probably didn't know it's OK to recognize a gain anytime and "Pay the Piper" as it were. That 30 day thing you're talking about is only an affliction that the rest of the investing world is concerned about. And then, only if they have a loss on the sale. Erin Go Brah! Mark