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biomaven0

10/19/11 9:58 PM

#13406 RE: ilpapa #13405

Yes, realistically IRS is not competent to find stuff like wash sales and tax straddles except with a high level audit. Even with the new reporting requirements, if transactions are in different accounts or different brokers it's going to be beyond them. At the end of the day it's just a timing issue in both cases anyhow - still have to pay the tax at the end of the day.

Peter