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To: Gary Ku who wrote (10509)11/27/1997 11:57:00 PM
From: Steve Pick  Read Replies (1) | Respond to of 12298
 
Gary, I thought you had to hold the stock for 18 months now to qualify for a long time gain so it really doesn't matter at all.

The only thing I can see is whether you want to hold the stock around the 20th Jan when earnings might be released. (I quote 20th out of the air without even looking to see if it is a Sunday. It is a good starting point for an estimate).

Steve



To: Gary Ku who wrote (10509)11/28/1997 10:06:00 AM
From: Greg Jung  Respond to of 12298
 
Gary the long-term qualifications are now 18 months.
The wash rule applies to both short- and long- term cap gains.
Basically you can't declare losses in stocks you're trading
(at a loss) but instead you raise the cost basis. OTOH a gain -is- immediately taxable.

Greg


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