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To: g_m10 who wrote (10872)12/11/1997 4:18:00 PM
From: Jim McMannis  Respond to of 97611
 
Boris...
Does it mean that loss still can be used against gains, but later when the stock is finaly sold?

Yes...



To: g_m10 who wrote (10872)12/14/1997 12:39:00 AM
From: Kevin Chesser  Respond to of 97611
 
Boris, in a wash sale, the loss is deferred. That is, if you sell today at say a $5,000 loss and repurchase the same stock within 30 days, then the loss cannot be deducted or used to offset gains until the "new" position is closed (and not reopened within 30 days).

If you sell, you may want to buy some deep in the money options if you worry that 30 days out of the stock is too long. Hope this helps.

Kevin


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