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To: Dr. Anthony Keyodo who wrote (2757)	9/27/1998 11:43:00 PM
From: Katherine Derbyshire	Read Replies (1) \| Respond to of 3696

Yes, as far as I know. The IRS doesn't care where the money for the IRA came from. Consult a professional, which I'm not. But why? Yes, I know that market timing is the path to madness, but.... If the stock has already lost half its value, then it has to double in price for you to get back to even. How often do your picks double in price? More rapidly than the S&P? Just something to think about. Katherine

To: Dr. Anthony Keyodo who wrote (2757)	9/28/1998 2:34:00 PM
From: marc ultra	Read Replies (2) \| Respond to of 3696

Tony,re< If I purchase a stock with personal money which takes a hit from 30 to 15. Can I sell, deduct the loss and on the same day purchase shares into a Sep-Ira?> You might want to be careful with this. I looked over this good internet tax guide for investors fairmark.com note it says under wash sales that selling in a regular account and buying in an IRA etc. might not be allowable. I can't paste that part but it's under capital gains and wash sale rule Marc

To: Dr. Anthony Keyodo who wrote (2757)	9/28/1998 10:09:00 PM
From: Xplorer	Read Replies (2) \| Respond to of 3696

Anthony, I suggest calling a CPA. What I believe is this - No, the loss would not be deductible. In this case it would be considered churning. 31 days must pass. However you could buy the same amount of shares of the same stock first, then sell the "old" stock for a loss. That's what I did. I bought the "new" shares one day and sold the "old" shares the next. If that is not an option then you would have to sell, wait 31 days, and then re-buy to be able to claim the loss. I have done that also. Steve

To: Dr. Anthony Keyodo who wrote (2757)	9/29/1998 11:03:00 AM
From: J. M. Blackburn	Read Replies (1) \| Respond to of 3696

Tony: We discussed this subject last December and maybe you can draw a conclusion from the posts. Of course with the IRS rules being as complicated as they are, we couldn't agree if it was a wash sale or not. I feel that it isn't based on information I received from professionals I trust. Message 2969264 Good Luck JMB PS Keep in mind that long term gains in an IRA type account will be taxed at your rate at time of withdrawal and that losses in an IRA are not deductible.

To: Dr. Anthony Keyodo who wrote (2757)	10/3/1998 9:10:00 PM
From: Bill Martin	Read Replies (1) \| Respond to of 3696

Re: If I purchase a stock with personal money which takes a hit from 30 to 15. Can I sell, deduct the loss and on the same day purchase shares into a Sep-Ira? I keep seeing this question come up at various places with no definitive answer. I believe that this is one of those things which only the IRS knows for sure and they're not talking. You might try calling the "new kinder, gentler" IRS and asking them for an opinion. Of course whatever they tell you isn't legally binding -- they can still penalize you later for following their faulty advise, but at least it shows good faith. The purpose of the wash sale rule is to keep you from showing a tax loss while continuing to own the stock. Arguably this is what you're doing with your IRA account, and thus is not permissible. Only the IRS knows for sure .... Plese let us know if you find a definitive answer. Bill Martin