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

To: Colin Cody who wrote (1651)	12/28/1998 3:13:00 AM
From: arar	Read Replies (1) \| Respond to of 5810

Help- Wash rule question!! a. If i have net losses greater than 8k for this year, is it a good idea to carry over the loss to next year using wash rule so that i could offset it with possible gains in 99. If i do not carry over the loss my understanding is that i can deduct only 3k every year for the following years b. In case i want to carryover the loss , is the following considered as a wash. I suffered almost all my losses on shorting a Stock XYZ and later covering it at loss(covered on 18 dec 98). - If i were to short it again before the 31 dec and cover it again next year would my losses for this year be carried to next year -under the wash rule. -Instead of shorting the same stock again would it be enough if i buy puts for the stock before the end of the year and hold them across into the new year. Ur input would be much appreciated. Thanks, arar