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To: Alok Sinha who wrote (15110)	3/31/1999 1:08:00 PM
From: JDN	Read Replies (1) \| Respond to of 64865

Dear Alok: For capital gains purposes IRS classifications for wash sales (i.e. if you buy back the securities that you sold within 30 days)only apply if you have a loss. I am not quite sure what you mean above, but as I understand it if you have a loss and buy the stock back within 30 days you cannot report the loss, you can only add it to the basis of your new stock. On the other hand if you have a gain, its still a gain which must be reported whether or not you buy it back within 30 days. JDN

To: Alok Sinha who wrote (15110)	3/31/1999 1:17:00 PM
From: Lynn	Respond to of 64865

Alok: The information JDN gave you is correct. eom Lynn

To: Alok Sinha who wrote (15110)	3/31/1999 3:16:00 PM
From: SecularBull	Respond to of 64865

I think that many of the technical rules are at least 60 days, and I'm not sure that wash sales are booked as short term if held for less than 12 months, even if you do the later transaction. In other words, the IRS will not allow wash sales per se. It might help if I had a better idea of the exact details of the transaction to which you refer. DISCLOSURE: I am not a CPA or tax professional. I speak only from limited personal experience. Regards, LoD