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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Trebor who wrote (2176)11/18/1998 9:31:00 PM
From: Demosthenes  Respond to of 15132
 
Bob,

<<Instead of FOLLOWING the sale of a fund, why not PRECEDE it? In other words, suppose you want to sell XYZ index fund. On Monday you buy ABC index fund, and then on Tuesday you sell XYZ. This avoids the 30 day wash rule. I've been told by my CPA that this is perfectly legit with stocks, so I assume it would be with mutual funds.>>

Wrongo!! The wash sale is 30 days on buying or selling first. Get another CPA.

Rgds, D



To: Trebor who wrote (2176)11/18/1998 10:52:00 PM
From: marc ultra  Read Replies (1) | Respond to of 15132
 
Bob re<wash sale rule: You can NOT take a tax loss if you buy the security any time from 30 days before through 30 days after your sale I think what your CPA was trying to tell you was instead of selling the security for a loss and waiting 31 days to buy it back you can "double up" and buy a similar amount 31 days in advance of your sale

Marc


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