Hi Gang, Remember I asked about the 30 day rule and its effect on basis? I went over this with my accountant and then sold the position and the broker and the accountant agreed with each other. The mistaken sell and buy back of the proper number raised the basis ~$13k so when I sold out the position I got a higher basis which translates into a loss for tax purposes. I still made money over my investment $, granted not much. I wonder if this gimmick is being used by others?
In case you don't recall I was told by AIM to sell but I typed in the wrong number and didn't notice for a few hours. I then bought back the number that would correct the mistake. The difference was a wash sale and was added to the basis, making it above my purchase price. I wound up making a couple of hundred dollars on the close out of the position but, for tax purposes, I lost money. Whoopee!
Almost done closing that trust and will have a significant block of money in a few days to try to figure out where to put it given that the market seems to be keep hitting its head against the ceiling over the last couple of weeks. I wonder if it is going to get tired of this and just lay down for a while?
Any suggestions where to put ~$185k? All ideas welcome. The rest of the money is in not tradeable assets, alas, so I have to figure out how to handle that.
Best,
Allen
