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To: Patrick Koehler who wrote (31943)	4/9/1998 4:19:00 PM
From: DavidG	Read Replies (1) \| Respond to of 53903

Pat, *OT I think I am somewhat confused by your IRS handling of washed sales. First, a loss is not lost, just deferred until the eventual stock is sold 30 days later, correct? So all you are doing is adjusting the loss forward until the next sale is made( hopefully at a gain). Second, Washed sales are for like stocks. The IRS says if you lost on 1000 shares and sold 500 for a loss...but b/c you repurchased within 30 days, you must defer that loss until you sell the 500 shares at a GAIN or if you sell at a LOSS but after 30 days....It has nothing to do with QUANTITY** of next purchase. Third, as I understand wash sales, you also have to call it a wash sale if you buy calls for stock you sold at a LOSS if within 30 days. David