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

To: Brendan W who wrote (370)	1/2/1998 3:29:00 PM
From: John J H Kim	Read Replies (1) \| Respond to of 5810

A question for anyone who might have the answer: Let's say one has bought a stock XYZ at $20 for example, the stock performs poorly and this stock is sold at $12 for a loss. Before the 31 days are up, one sees an opportunity to trade this sock for a quick $3 profit and then the XYZ is not re-bought for the next 31 days. Does this mean that you will lose all the tax loss credit for good? or do you now get only a tax loss of $5 instead of $8 for the year? Thanks to anyone who can answer