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

To: William G. Murray who wrote (898)4/1/1998 3:03:00 PM
From: posthumousone  Respond to of 5810
 
if i have 2 jobs can i have 2 401Ks contirbuting 10K max to each?
if i have a full time job and have a small business can i have an IRA and a SEP-IRA???



To: William G. Murray who wrote (898)4/1/1998 4:33:00 PM
From: Richard Forsythe  Respond to of 5810
 
You are (I believe) correct. Only open positions on Jan 1 need to be reviewed to see if they 'washed' a losing sale.

Anyone? Can two different options on the same security trigger the wash sale rule?

E.g. I sell INTC May 85 Calls at a loss, but invest the proceeds in INTC Jan 99 85 LEAPs (which I hold through the end of the year). Can I offset the loss on the May85s, or do I need to roll them into the basis for the LEAPs?

Richard


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