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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (29416)12/20/1997 5:44:00 PM
From: Mark Bartlett  Respond to of 35569
 
Eva,

<<well may be, but I don,t understand it, what is it about the 30 day's !. Could you or
Daniel explain it to me ??>>

Tax loss selling .... have to wait 30 days before you buy back.

MB



To: Eva who wrote (29416)12/20/1997 6:49:00 PM
From: Bob Jagow  Read Replies (1) | Respond to of 35569
 
Eva,
I see Mark covered it--wash sale rule prevents tax writeoff of loss if you buy back within 30 days.

bj



To: Eva who wrote (29416)12/20/1997 7:04:00 PM
From: BeanCounter  Respond to of 35569
 
Useful post for Eva. The realized loss is disallowed, but not lost. Add the realized lost to the basis of the newly aquired stock. Newly aquired stock includes holding period of old stock, which could make the difference in short/long term loss recognition. Ultimately you will be able to recover the cost of the new stock and the unrecovered cost og the old stock.


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