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#1
11-13-2004, 02:07 AM
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 Re: Part II, Long Term Loss to LT Gain? "Jerohm" <jrmohrREMOVE[at]snet.net> wrote: - quote - > Thanks you all for your quick response to my last question.
When you have a wash sale, the disallowed loss is added to> I figured that something would prevent you from doing that. > However, if the date ALSO changes, does that mean that it is > 'conceivable' (not necessarily likely, mind you!) to trade > in and out of a stock (within the 30 day wash window(s)) and > convert a long term loss to a long term gain?? the cost basis of the replacement shares. So the price would still have to rise past the original shares' cost for you to have a gain. You can accomplish the same thing by simply holding onto the original shares and waiting for the price to rise. Since this avoids transaction costs, what would be the point of the sale/buyback? -- Barry Margolin, barmar[at]alum.mit.edu Arlington, MA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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11-13-2004, 02:06 AM
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| Re: Part II, Long Term Loss to LT Gain? "Jerohm" <jrmohrREMOVE[at]snet.net> writes: - quote - > However, if the date ALSO changes, does that mean that it is
Sure.> 'conceivable' (not necessarily likely, mind you!) to trade > in and out of a stock (within the 30 day wash window(s)) and > convert a long term loss to a long term gain?? Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
11-12-2004, 06:16 AM
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| Part II, Long Term Loss to LT Gain? Thanks you all for your quick response to my last question. I figured that something would prevent you from doing that. However, if the date ALSO changes, does that mean that it is 'conceivable' (not necessarily likely, mind you!) to trade in and out of a stock (within the 30 day wash window(s)) and convert a long term loss to a long term gain?? Thanks for putting up with me! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| gain, long, loss, part, term |
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