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

To: ratan lal who wrote (42700)12/18/1997 9:38:00 AM
From: Barry A. Watzman  Read Replies (3) | Respond to of 186894
 
>re: There are ways to get around this and even make a profit. If you want to sell INTC for a tax loss but dont want to give INTC up, you simply SELL Jan puts.

No, you can't do that. The law considers it a "wash sale" if it is the same security or a "substantially similar" security. Common stock and puts, call or other options (warrants also, I think) on the same company would fall under this classification. I'm not aware of any way around it, especially now that going "short against the box" is also not recognized for tax purposes.



To: ratan lal who wrote (42700)12/18/1997 11:31:00 AM
From: Paxb2u  Read Replies (1) | Respond to of 186894
 
ratan lal,

I'm not sure I understand. If I sell my INTC for the loss and then sell and equal amount in puts, I pick up the premium. However, if the target price is hit within the 30 days, I'm assigned the stock at that price. Is that not considered buying it within the 30 days for tax purposes?

Thanks in advance,

Peter


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