Go to Jeff Salisbury LWGate Home Page.From: SMabel555@aol.com
Subject: Wash sale
Date: Thu, 14 Jan 1999 17:02:56 EST
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I bought 100 shares of a stock 3 years ago for $4. It was recently trading as low as $0.25. I bought another 400 shares. What is the impact / meaning of a wash sale? As I interpret it, if I sell the 400 shares for $1 (profit = $300 - commissions), then sell the 100 shares at $1 (loss = $300), I DO NOT GET TO CLAIM THE LOSS for tax purposes. Is this correct? Are there any other impacts? Would it matter if the loss & gain did not exactly cancel each other out? SM - -
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