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Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (3407)3/25/1998 11:15:00 PM
From: _scott  Respond to of 6317
 
>>Well yea you buy when its 32 and sell when its 32 1/2.<<
Thanks. That's what I thought you meant.
I've just made the second part of that play on IAIC this afternoon, but I'm worried it may be one of those that doesn't go back down. Oh, well. -scott



To: AlienTech who wrote (3407)3/26/1998 1:50:00 AM
From: Toby Zidle  Read Replies (2) | Respond to of 6317
 
Just curious, AT, about your trading scenario....

Stock you originally bought at 42, you sell at 33 1/2, and then you capture 1/2 point by buying the stock back at 33. What do you do about the income tax consequences? Seems to me that if you don't stay away for 30 days from a stock you took a loss in, the IRS defines your action as a 'wash sale' and you lose the tax benefits of your capital loss. Is capturing a 1/2 point really worth it?


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