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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: jefferson who wrote (23878)	11/18/1997 7:47:00 AM
From: bill c.	Read Replies (1) \| Respond to of 61433

[ Jefferson - Wash Sale ] When you sell a stock at a loss and repurchase the same stock within 30 days you have a "Wash Sale". You have to take the loss at some future date. (ex) Initially purchase 100 share of ASND @ $50. Sell it at $25 and repurchase it at $25 < 30 days later. You can't take your $2500 loss on your taxes.....YET. You must adjust your purchase price at $25. You new adjusted purchase price would be $50 on that second purchase of ASND. Now, just wait > 30 days to sell ASND a second time. 31 days lately ASND is still $25, you just realized your $25 loss for your taxes... but don't repurchase again within 30 days. I hope this is clear... until later. PS. Between the 2nd and 3rd sell and buy, the window increased from 30 days to 60 days.