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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?


To: grw5 who wrote (1560)12/6/1998 1:07:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 5810
 
George, The deadline for doing that tax-play was December 1st for this year. You need to wait 31 days between the "buy" and the "sell".

So yes you could still do it: buy, wait 31 days, sell and you'll recognize the loss for taxes, BUT it will be 1999 taxes, the year of the sale.

To get it in 1998 you must REVERSE the order: Sell, wait 31 days, buy.

Colin