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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Warkentin who wrote (45718)	1/16/1998 8:43:00 AM
From: Barry A. Watzman	Read Replies (1) \| Respond to of 186894

The wash sale rules don't apply to IRA accounts. Further, the wash sale rules neither prevent you from making a transaction, or from realizing (at some point) the resulting loss, they only deal with WHEN (and exactly how) the resulting tax loss is realized, and whether it is treated as a short term or long term loss. Don't let the tail (taxes) wag the dog (your overall portfolio contents). I can's say how the IRS would look at a either a conversion of the warrants or the sale of the warrants and purchase of the stock, with regard to the wash sale rules. PERHAPS, since the warrants expire and the stock doesn't, you could make a case that the securities, this close to expiration, are not "substantially similar", but you will have to consult a tax professional on this one.