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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (129407)	5/27/1999 3:42:00 PM
From: arthur pritchard	Read Replies (1) \| Respond to of 176387

freeus: are you really sure you are not eligible for trader tax status ? Garrett is an advisor and friend of mine, and would probably be glad to speak to you about this. I can't imagine you do not fit the criteria...you can pm him on my site...

To: freeus who wrote (129407)	5/27/1999 4:25:00 PM
From: DellFan	Respond to of 176387

Freeus - please not re: wash sales rules do apply to traders They do not apply to "dealers" - which is a very different animal from a trader. A "dealer" inventories securities for sales to others. A trader does not. So even though you might be a "trader", the wash sales rules still apply for sales after 12/31/84. Christopher Information on this follows: The wash sale rule does not apply if the taxpayer, whether or not corporate, is a dealer in stock or securities and the loss is sustained in a transaction made in the ordinary course of such business. 94 94 Section 1091(a). Prior to its amendment by Section 106(b) of the 1984 TRA (P.L. 98-369), the rule disallowed only losses claimed under Section 165(c)(2) (losses incurred in a transaction entered into for profit though not connected with a trade or business) or to a corporation under Section 165(a) unless it was a dealer in stocks or securities and the loss was sustained in the course of its business as such dealer. Thus, traders and corporate dealers were exempted from the rule. The amendment restricting the exception to dealers, corporate and noncorporate, applies to sales after December 31, 1984.