Replies to post #9341 on Market 99 Ltd (fka MNTY)

[jbones001]

lol... no problem... me too...

you know if you didn't care about the tax loss this year, what you could have done is the following:

let's say you bought 100000 shares at .05 on 11/1.
PPS dropped to .01 so you picked up 100000 more on 11/5.
PPS goes up to .02. You sell 100000 shares on 11/8. But you email your broker and tell them you want to sell the second lot you bought on 11/5. In Ameritrade, this is called a "Versus purchase trade". Ameritrade will acknowledge this and keep this record in case the IRS wonders why the lot you sold wasn't done using FIFO (first in, first out) method. This way, even though you are still down on the first lot you bought, you made some money on the 2nd lot you bought, without having a wash sale. You can use other losers in other stocks to offset this gain.