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To: _warlock_ who wrote (91169)7/4/2002 12:38:57 AM
From: kanuti  Respond to of 99280
 
Everything you want to know about wash sales: fairmark.com



To: _warlock_ who wrote (91169)7/4/2002 12:44:02 AM
From: Larry Brubaker  Respond to of 99280
 
A wash sale is selling a stock at a loss, and then buying the same stock back within 30 days. The amount of the loss on the first sale is added to the cost basis of the second purchase.

If you sell one stock at a loss and buy a different stock, it is not a wash sale and the loss on the first sale is deductible.