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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: George Papadopoulos who wrote (19267)	12/29/1997 3:49:00 PM
From: TheInvestor	Read Replies (4) \| Respond to of 42771

George: Your comment: << Isn't the settlement date the date that counts for cap gains?" No. it is the trade date that matters, NOT the settlement date. So, you have almost two full trading sessions to sell and get the tax loss<gg>. >> I asked the same question of my tax accountant, he told me that for a tax loss its the settlement date and NOT the trade date that you report in the Schedule D. Also, if one takes a sell loss, one cannot rebuy that stock for 30 days from the sell settlement date. If you do rebuy the same stock in less than 30 days, it will be considered a "wash sell" and you will lose your writeoff. On the profit side you can sell and rebuy in less than 30 days and report the income and pay uncle Sam the tax. It sounds like uncle Sam has a double standard when it comes to capital gains laws. "What a ripoff deal". loss will not