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

To: No Mo Mo who wrote (24672)12/13/2000 11:18:48 AM
From: edamo  Read Replies (1) | Respond to of 65232
 
no mo mo "wash rule"

ask a well versed cpa if the rule applies when you sell the common, and immediately open a short put position in the same stock....you may get an interesting answer.....not sure if any irs opinions exist on such transactions



To: No Mo Mo who wrote (24672)12/13/2000 11:43:28 AM
From: Bob Pittsfield  Read Replies (2) | Respond to of 65232
 
I don't believe you have to stay out of the stock for 31 days or you lose the loss. It just defers the loss by raising the cost basis of the new lot. Still get the loss but not until you sell the last lot.

I am NOTan accountant so check with your own tax advisor.

Bob


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