Replies to post #47756 on Anavex Life Sciences Corp (AVXL)

[redwing992006]

don't know , but if other account is the same account owner, I doubt it

[jimmy667]

Of course you are right. If the other account is a tax deferred account like IRA Roth iRA 401k SEP Simple any of those. As long as you do not buy in a taxable account there will not be a wash. If you buy in different taxable account it will need wash accounting. And different brokerage will not be able to do for you but Gains Keeper software can. But all these wash and tax gain/loss should be done for you but you can choose the rules to use for each specific trade ie. FIFO HIGHEST PRICE ect. chosen depending on if want to take gains this year or take more losses. FIFO best for stocks held for more than one year but need to go though trades to specify specific lots of the stock to claim were sold. Again a good software like Gains Keeper will make this easy and also be current with regulations. Also need good tax soft ware Turbo Tax links with Gains Keeper so what ever stock software you use make sure link to tax software.

[jimmy667]

One Very Important Thing when trying to maximize tax losses one NEEDS TO specify the highest price purchase lots as the ones sold and also avoid the those held the longest (because want to perserve long term treatment) This is done within ones brokerage software or Gains Keeper or such Highest Price button or other Specification because if not elected IRS default elects FIFO which is the choice one whould make when minimizing taxable gains selecting oldest holdings.
SECOND IMPORTANT thing and this is pure opinion of my own. (one above is fact)
If buying back and thinking this is a long term investment that could skyrocket buy in a Roth Ira in a brokerage that allows margin in IRA for purposes of Day3 rule and trading on deposits. That way will eliminate future gains taxes.
I am long AVXL. I use all my Roth ceiling for it no room for another. And most IRAs and 401k. (These are also best for flipping if you do that because super tax bais on individial accounts which flipping gain will generate tax bills even If you are sustaining crushing paper losses. Flipping to lower ones cost basis is different story but should specify lots as in HighestPrice or FIFO very important.
Happy New Year Great Luck to All

[Justfactsmam]

...only if the accounts are not held in identical names, otherwise the rule will be applied