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To: Sowbug who wrote (42812)12/18/1997 9:29:00 PM
From: Sonny McWilliams  Read Replies (1) | Respond to of 186894
 
Sowbug, re: Would the loss be allowed then?

NO.

Sonny



To: Sowbug who wrote (42812)12/18/1997 9:58:00 PM
From: Dale J.  Read Replies (2) | Respond to of 186894
 
<<re: Anyway, what if I had bought 100 shares of INTC @ $100 in the summer, then instead of selling them now to try to get the short-term loss, I bought an ADDITIONAL 100 shares @ $70, and then a day later sold my original $100 shares for the $30/share loss?

Would the loss be allowed then?>>

Sowbug: That's a good question. I think it would be allowed, but I don't know. Can anyone answer it. If it is allowed then you just pointed out a loophole in the tax law. Dale



To: Sowbug who wrote (42812)12/19/1997 12:06:00 AM
From: Barry A. Watzman  Read Replies (1) | Respond to of 186894
 
I am not sure about this, but I think that the wording of the wash sale rules are "within xx days of" not "within xx days after". But you should check with an accountant.