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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: Chucky who wrote (33804)10/28/1997 11:54:00 AM
From: Ben Antanaitis  Respond to of 58324
 
No.... you can make profit and then do anything you want.



To: Chucky who wrote (33804)10/28/1997 11:59:00 AM
From: Paul Angell  Read Replies (1) | Respond to of 58324
 
Chucky,

If you sold yesterday then you will be liable for capital gains tax if you made a gain. If you made a loss you would have to wait 31 days before buying the same security back to count it as a loss.

Today's buying is not related to yesterday selling for tax purposes if you sold yesterday for a gain.

Paul.



To: Chucky who wrote (33804)10/28/1997 2:44:00 PM
From: slipnsip  Respond to of 58324
 
<Is there a similar rule for taking capital gains?
ie. If I sold yesterday, but bought back in lower today?>

It only works like a one way street. You will have to pay cap gains.

Once again I am not a CPA but I am 99.9% sure I am correct. This is not to be construed as tax advice.


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