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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: B. A. Marlow who wrote (6438)	5/30/1999 9:33:00 AM
From: Sam Sara	Read Replies (2) \| Respond to of 28311

GNET wash sale rules BAM, I was unwilling to wait the 30 days after my sale so, yes, I do have a wash sale on my hands. My understanding of tax law is, at best, elemental. Nonetheless, my understanding is that the disallowed loss is added to the cost basis of the shares I repurchased. Thus any future taxable gain will be decreased. If I hold GNET through and past the end of 1999, I will be unable to declare my capital loss for this year, but I see that as the only real penalty for the wash sale. I certainly hope this is correct! If I am mistaken, can some financial type out there comment?