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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL) -- Ignore unavailable to you. Want to Upgrade?

To: Joe Matthew who wrote (38187)	9/30/1998 9:09:00 PM
From: Kenneth V. McNutt	Read Replies (1) \| Respond to of 41046

Wash rule sale:If you wish to take a loss the obvious answer is to sell the security and then buy it right back, suffering only the commission costs in the process. Unfortunately, this is obvious to the IRS, too. The ''wash sale'' rule prohibits you from taking a loss on a security sale if you buy the same security within 30 calendar days before or after the sale. You can skirt the wash rule by buying more of the security at least 31 days before selling the original block. Of course, this means postponing your sale, but you wouldn't consider buying more shares if you weren't optimistic. Alternatively, you can sell the original block, then buy more at least 31 days after the sale. But the risk is that the security's price jumps during the period you don't own it. You may buy any similar stock or mutual fund during this period and still get the 'wash rule' loss. Go to Yahoo. Type "wash rule" and read the results. Your welcome. K PS: I would suggest waiting more than the 31 days, if possible, so as to deter nitpicking by the IRS as to time frame.