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Microcap & Penny Stocks : EUTRO INVESTMENT GROUP EUTO (LONGS) -- Ignore unavailable to you. Want to Upgrade?

To: Auricman who wrote (399)	12/10/1997 5:41:00 PM
From: Coral4pH_dot_com	Read Replies (1) \| Respond to of 1667

Ernie, As soon as your shares are sold, you can use that "equity" for an immediate trade (at least with Schwab and FarSight). There are no waiting periods that I have ever heard of. Unless you are talking about Mr. Bender being under different trading rules, since he was or is one of the largest shareholders.

To: Auricman who wrote (399)	12/10/1997 6:20:00 PM
From: Jack of All Trades	Respond to of 1667

You get unsettled sales that will settle in max 3 days, if you use a cash account, this is as good as cash. When you purchase a stock your have 3 days to settle the purchase. JeffG

To: Auricman who wrote (399)	12/10/1997 7:26:00 PM
From: Playin my Cards	Read Replies (2) \| Respond to of 1667

Message from Ernie Miller on Dec 10 1997 5:37PM EST Question?? For those selling at these prices. What is the "Wash Rule" implications for buying back at a lower price. Is there not a time required before repurchase ?? Anyone. Still holding and trying to buy more at .04.. Just for your info, the Wash rule only works one way. If you are selling shares you bought for less, you Pay the taxes reguardless and can buy back at any time. If you are selling for a loss, you can not re-purchase the same stock for 30 days or your loss is not tax deductable, but just counted against any gains you may recieve on the new purchase. This is per my uncle whome is a CPA. But, ask your own accountant to be sure. Mike

To: Auricman who wrote (399)	12/10/1997 8:39:00 PM
From: Fred Seitel	Respond to of 1667

Ernie, the wash rule deals with the case where you have sold your original investment at a loss, and then repurchase shares (at any price) within 30 days. You can not deduct the tax loss for any shares so repurchased, but rather you increase the basis of the repurchased shares by the amount of the loss. So when you sell the repurchased shares, you recapture the loss at that point (assuming the share price has remained constant). Why such a rule? The IRS tries to have you pay taxes as early as possible (i.e., this year rather than next year). The rule discourages deliberate selling to generate tax losses just prior to the tax-filing deadline. (You have to plan ahead, i.e., at least 30 days). You can download tax publications from this IRS link: irs.ustreas.gov You probably want Publication 550. - Fred