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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Charles Skeen who wrote (41999)	12/11/1997 4:19:00 PM
From: Sowbug	Read Replies (2) \| Respond to of 186894

Tax question for the thread: I'm so long-term bullish on INTC that I should be wearing a shirt with a picture of Andy Grove & Gordon Moore on it. Yet I sold my holdings at $75 yesterday, seeing a downturn coming. I took a short-term loss in doing so ($6/share). I know that if I buy in at $70 (for example) tomorrow, I'll trigger the 30-day wash rule against being able to take the tax loss, and I'm ok with that. My question: If I do buy tomorrow, what is my basis in the stock? I'm sure it's $70, but am I correct that I never, ever, ever get any sort of tax benefit for the $81 to $75 short-term loss? Thanks.