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To: Jose A. Almodovar who wrote (127669)	5/21/1999 2:35:00 PM
From: Augustus Gloop	Respond to of 176387

<<As for wash sale I am not familiar with the practice>> If you sold an equity at a loss, you can't buy the same one back within 30 days or the loss is not a write off.

To: Jose A. Almodovar who wrote (127669)	5/21/1999 3:07:00 PM
From: arthur pritchard	Respond to of 176387

Jose See post # 127623 Reference Wash Sale G W TAX PLANNER ( Friend of Arthur Pritchard )

To: Jose A. Almodovar who wrote (127669)	5/21/1999 3:18:00 PM
From: Alohal	Read Replies (2) \| Respond to of 176387

Jose: PLEASE READ THIS I thought from you original post you might not be familiar with the wash-sale rule. You should spend some time with a book on tax law as related to securities sales. A brief summary: If you sell a security and incur a loss, then buy back that same security at a lower price within 30 days, you will NOT BE ALLOWED TO DEDUCT YOU LOSSES ON THE ORIGINAL SALE AGAINST YOU CAPITAL GAINS! In order to be able to deduct your losses, you must wait 30 days to buy back that security. One method of dealing with this is to apply to the IRS for tax status as a trader (can be tough to qualify for if your predominant source of income is not from trading). Hope this steers you toward a more comprehensive source of info. Good luck and aloha. PS This presumes you are a US resident and pay taxes here. It occurs to me that since we are on the web, you could be almost anywhere in the world!!