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To: Paul Fiondella who wrote (42832)12/18/1997 10:33:00 PM
From: Dale J.  Respond to of 186894
 
Paul thanks for the tax clarification. Are day traders or MF managers granted any special tax priveliges? It seems they are always buying and selling the same stocks.



To: Paul Fiondella who wrote (42832)12/19/1997 12:11:00 AM
From: Barry A. Watzman  Read Replies (1) | Respond to of 186894
 
>re: The trade wouldn't be allowed.

Let's get this straight, the wash sale rules do not PROHIBIT any trades, they only deal with the tax treatment of sales resulting in a loss when a sufficiently similar trade in the opposite direction occurs within the specified period.

There are people mistakenly running around thinking that they cannot make such trades at all, that's not the case, but they may have to defer the loss.


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