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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (15)	11/2/1998 12:22:00 AM
From: Baghul	Read Replies (3) \| Respond to of 56535

I understand that wash sale does not let you deduct losses in a stock that you buy within 30 days. The question I have is if you buy say 100 shares of XYZ at 80, then buy another 50 shares at 90. If you sell 150 shares at 85, you have gain on the first 100 shares and loss on the next 50. Does that mean that you can buy 100 shares in the next 30 days but should not buy 50 shares. I have asked a lot of tax people and can't seem to get a straight answer. Thanks in advance. BTW nice thread. If you want to share any of the movers, please post at this thread Subject 22842