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To: P-inverstor who wrote (2906)12/6/1998 7:27:00 PM
From: Investor2  Respond to of 3696
 
31 days



To: P-inverstor who wrote (2906)12/6/1998 8:41:00 PM
From: Kip518  Respond to of 3696
 
irs.ustreas.gov

Wash Sales

You cannot deduct losses from sales or trades of stock or securities in a wash sale. Any gain from these sales is taxable as a capital gain.

A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:

1.Buy substantially identical stock or securities,
2.Acquire substantially identical stock or securities in a fully taxable trade, or
3.Acquire a contract or option to buy substantially identical stock or securities.

If you sell stock and your spouse or a corporation you control buys substantially identical stock, you also have a wash sale.

If your loss was disallowed because of the wash sale rules, add the disallowed loss to the cost of the new stock or securities. The result is your basis in the new stock or securities. The effect of this adjustment is to postpone the loss deduction until the disposition of the new stock or securities. Your holding period for the new stock or
securities includes the holding period for the stock or securities sold.



To: P-inverstor who wrote (2906)12/7/1998 12:09:00 AM
From: Dave Kahn  Respond to of 3696
 
31 days



To: P-inverstor who wrote (2906)12/7/1998 11:00:00 AM
From: Kirk ©  Respond to of 3696
 
I was told 31 days but I am not a tax expert so
<insert usual tax disclaimer here>

I'm wondering if we will get a really attractive price to buy back as the tax loss deadline and most that wait to the last minute to think about it decide to unload? UTEK is still a bit lower than when I sold ....and what I bought has doubled! My 31 days are long gone, but I am sort of thinking we will get a down bounce in the sector soon which might bring UTEK lower yet. I still have a position too, just I am always looking for more bargains..

Hmmmmm.......