Replies to post #162025 on Zeev's Turnips Patch-No Politics (ZEEV)

[Newly2b]

http://www.fairmark.com/capgain/ws101.htm

Newly

[tommy trojan]

cintrix,

to avoid the wash sale rule, you should not repurchase the same or substantially equivalent stock 30 days before or after the sale date...in other words, the whole wash sale period has 61 days..if your sale date is 9/17, then you can't repurchase the same or substantially equivalent stock from 8/18 thru 10/17...

pls note the following:

1. if the wash sale does apply, you will tack on the disallowed losses to the basis of the reacquired stocks. in other word, the loss isn't really disallowed, it's merely deferred to the day when you dispose the reacquired stock..

2. if you're a trader & you elect the "marked to market" method, you are not subject to the wash sale rule..

regards
tommy