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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (94987)	3/13/2002 3:29:23 PM
From: Edmond Katonica	Read Replies (1) \| Respond to of 132070

Joan " You were talking about taxes - are you aware you can deduct on your taxes the Australian taxes paid on the dividends." I believe that there is a limit to what you may deduct. Right now I think the Aussie economy is the fastest growing economy in the world. {Develop nations}. I think FAX is reacting to this. I own a sister fund to FAX.. IAF.

To: Joan Osland Graffius who wrote (94987)	3/13/2002 3:30:35 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

"Holy cow you are aggressive" I guess I reason that most of what FAX holds are highly rated government bonds that are pretty nearly as good as cash. Of course, there's the risk of inflation and the currency risk, but where is there not risk of some sort? After studying the wash sale rules, I sold a third of my USU when it shot up from $5.89 or so to $7.18 or so. I realized that while I could not take a loss, neither did I have to book a profit since the presumption is when you sell that you are selling the first shares bought. And the wash "loss" still is a benefit since it raises the basis of the cheaper stock. Meantime, you have an actual cash gain in the account, and that also cleared up my margin debt. I completely disapprove of this kind of trading, but sometimes things just fall in your lap.