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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (236)12/3/1997 9:42:00 AM
From: Cisco  Read Replies (1) | Respond to of 5810
 
Cody,

Thanks for your reply. I just received a response back from my CPA.

His conclusion is close to yours. He recommended going ahead and taking the loss. However, he said their is a very remote chance that someone could challenge it since regulations and rulings appear silent on this matter.

He said intuitively you could also make the case that you would never be able to take advantage of the loss if the wash rule applied.

Cisco



To: Colin Cody who wrote (236)12/6/1997 1:34:00 PM
From: Sonki  Read Replies (1) | Respond to of 5810
 
all: set of useful links you will find useful

CHAPTER 1 - NORMAL TAXES AND SURTAXES
tns.lcs.mit.edu

tns.lcs.mit.edu

Contents of TITLE 26 - INTERNAL REVENUE CODE
tns.lcs.mit.edu
irs.ustreas.gov
irs.ustreas.gov

thx for the explaination on warrants and leaps.


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