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

To: Dave Bissett who wrote (29424)12/20/1997 7:23:00 PM
From: go4it  Respond to of 35569
 
Dave,

<<If you sell and then buy back in at a HIGHER price sooner than 30 days can you not take the loss?>>

I don't think it matters. I remember reading the wash rule (someone posted it on this thread a long time ago) and the IRS example that was given was based on buying it back again at a higher price but I read it as a cost adjusted sale of your basis regardless of what price you re-purchased the stock.



To: Dave Bissett who wrote (29424)12/20/1997 8:07:00 PM
From: BeanCounter  Respond to of 35569
 
Dave, seperate all capital asset transactions (CAT) into ST & LT. Determine net STCG or L CAT. Determine net LTCG or L CAT. Then, deterimine overall net G or L. If L, the limitation is the lesser of $3,000 or the excess of the CL over the CG.


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