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To: LLCF who wrote (168346)5/27/2002 1:43:10 AM
From: KeepItSimple  Respond to of 436258
 
Biggest secret about taxes you'll ever learn- the IRS doesn't know jack shit.

They didn't notice enron avoiding 5 billion dollars in taxes- they aren't going to notice a small trader avoiding pocket change in taxes.

You think there's someone in the IRS that actually matches every trade and calculates whether or not it is a wash sale? LOL! I bet you believe in the tooth fairy too. The IRS knows how to pick their targets, and trust me, they're not going to go after someone who has 200 option or equitiy trades per year. They don't have the resources. It's much easier to screw people who take home office deductions that are 3x their annual income. No brainers.

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The IRS doesn't now dic all about this stuff... just do what you want IMO. The overriding concern is dates on stock purchase and sale. NFG