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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (24488)	12/12/2000 6:04:58 PM
From: No Mo Mo	Respond to of 65232

Thanks, Jim Willie. -D.

To: Jim Willie CB who wrote (24488)	12/12/2000 8:23:36 PM
From: djia101362	Read Replies (1) \| Respond to of 65232

JWCB, the "Wash Sale" rules do not preclude one from replacing stock with another stock in a similar or identical business. ie. Altera and Xilinx or Dell and Gateway. You could sell Dell at a loss and buy Gateway the very next second and the Dell loss would be 100% deductible subject to the $3000 cap loss limitation. But if you sold Dell stock at a loss and bought Dell calls or sold Dell puts within the 61 day window, the Dell loss would not be deductible under the wash sale rules.