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Microcap & Penny Stocks : BNEZ and PMA; Success in 1999 -- Ignore unavailable to you. Want to Upgrade?

To: Qone0 who wrote (644)12/16/1998 2:57:00 AM
From: E. Davies  Respond to of 2648
 
Your understanding of the wash sale rule is incorrect. A sale that results in a loss cannot have a purchase within 30 days *before* or after the sale if you want to declare the loss in the current year.
Its actually rather obvious when you consider the reason for the wash sale rule.
You must wait 30 days after buying before you can sell and take the loss on the current years return. I often do exactly that, buy more in early Nov and sell it in early Dec.
Eric


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