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Technology Stocks : QUANTUM -- Ignore unavailable to you. Want to Upgrade?

To: Joe Hoek who wrote (7428)	3/3/1998 1:45:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 9124

Off topic: Wash Sale: First, you seems totally missed the date I mentioned in my post, which is FEBRUARY. I know what is the definition for a wash sale and I have IRS Pub 550 right in front of me. The problem is one can keep wash the same stock 100 times a year, if one likes, each time the gain will be offset, and the loss will be added in the base of the next purchase. You will never lost the LAST loss, which has all the previous loss locked in, as long as you do not buy it back before Feb. 1 of the following tax year. It amazed me that it seems a lot of investors do not understand this. Wash sale only makes difference on year to year basis. I washed, so what? It won't make any difference in my actual gain/loss as long as I don't buy it back before Feb. 1 . I don't know why you gave such an obvious example which everybody knows it is a loss you cannot claim. What about I only bought it back after Feb.? That is exactly my point. Yes. I did sell half my position in QNTM on 12/31/97 to offset my capital gain in 1997. But I haven't bought it back until after Feb. And I will wash as many time as I want on QNTM as long as I don't buy it back before next Feb. 1. Good luck.