Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: kas1 who wrote (11090)	12/7/1997 11:24:00 PM
From: William H Huebl	Respond to of 94695

Konrad, I won't touch that with a 10 foot pole... You need to get tax advice from your CPA... not us. Regards, Bill Lessee, it's debits to the wall and credits to the window... or do I have it reversed again!

To: kas1 who wrote (11090)	12/7/1997 11:51:00 PM
From: Darth Trader	Respond to of 94695

re: if i sell a security at a loss, how long do i have to wait before buying it back so i can write off that loss against my capital gains? I believe it to be around 31 days.

To: kas1 who wrote (11090)	12/8/1997 1:40:00 AM
From: Stingray	Read Replies (1) \| Respond to of 94695

Konrad, regarding year end tax loss selling. You have to wait 31 days to buy the security back to avoid a wash sale. If you sell the stock and buy call options on the same stock within 30 days that may well count as a wash sale but you should call your CPA for the definitive answer to that question.The IRS closes a few more loopholes each year so what applied in 1996 may not apply for 1997.

To: kas1 who wrote (11090)	12/8/1997 1:43:00 AM
From: Mitch Blevins	Respond to of 94695

konrad, go here for free advice.... chrisinc.com Post your question in the 'Discussions' section. Usually there is an answer in a few days. Plugging away, ~Mitch