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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (360)12/30/1997 11:21:00 AM
From: RealMuLan  Read Replies (1) | Respond to of 5810
 
Colin: the following is from another SI thread. So what he said is the old rule? Please advise. Thanks in advance.

To: +Yiwu Zhang (6103 )
From: +bobgh Wednesday, Dec 24 1997 3:45PM EST
Reply # of 6271

Yiwu Zhang

Re: Friday being last day to sell for capital gains.. According to the
I.R.S. gains are determined by settlement date.. Losses are determined the day of the sell.. Why I don't know... So Friday should be the last day for the "fund managers" to nail down their profits.. Hopefully they aren't setting on "many" big losses this past month and keep hammering this group through the 31st..

bobgh



To: Colin Cody who wrote (360)12/30/1997 3:00:00 PM
From: Box-By-The-Riviera™  Read Replies (1) | Respond to of 5810
 
colin...here's a question... a covered call you wrote gets exercised... unfortunately some of the shares called away are called away at a loss. Do wash sale rules apply to shares that have been "called" versus normal circumstances....

If you've got an answer...would appreciate any citations you can provide to support an opinion...

thanks

Joel


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