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Technology Stocks : BORL: Time to BUY! -- Ignore unavailable to you. Want to Upgrade?

To: david thor who wrote (8150)12/19/1997 11:51:00 PM
From: i-node  Read Replies (1) | Respond to of 10836
 
No, no, they CAN buy back, but if I remember the wash rule, they can't take the prior loss.

Right; the tax law does not tell you when you can buy and sell; only whether you can deduct the loss. The wash sale rule prevents you from deducting a loss on a sale of stock if substantially identical shares are purchased within +/- 30 days of the date of the sale. The loss so disallowed is added to the tax basis of the shares repurchased.


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