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To: cellhigh who wrote (31480)12/28/1998 9:01:00 PM
From: The_Guru_00  Read Replies (1) | Respond to of 164684
 
Wash Sale - If you buy back a stock within 30 days after you sold it, or vice versa, the transaction is not considered a sale. Therefore, you cannot take the loss. For instance, if you bought a loser stock mid year and it is down now, you can sell it hoping to take the loss against some gains. That is fine as long as you don't repurchase the same stock within 30 days.

Guru.



To: cellhigh who wrote (31480)12/28/1998 9:06:00 PM
From: Jan Crawley  Read Replies (1) | Respond to of 164684
 
can any explain the wash rule?

For an individual - If one sells a stock and incurs tax-deductible losses and one plans to use the losses to offset taxable gains, one has to wait 31 days before purchasing the same stock back. For institutions I believe the wash rule period is 60 days.



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