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

To: thumbelina who wrote (1706)	1/2/1999 10:03:00 PM
From: Jan Crawley	Respond to of 5810

If one buys security x and sells all the shares at a gain and within the 31 day period repurchases the security then winds up selling at a loss (alas). In this case, you have a taxable capital gain and a tax-deductible loss. The gain should be reduced(or eliminated) by the loss if they are short-term loss/gain. The difference here is "intention"; therefore the reverse does not apply.