In article <gmcn09$r0d$1[at]news.motzarella.org> ,
JoeTaxpayer <JoeTaxpayer[at]comcast.net> wrote:

- quote -

What you could do, if you don't mind potentially paying a tiny bit more
tax down the line, is declare the wash sale properly on this year's
taxes, so that the $50 loss is negated. But don't bother to keep track
of it, i.e. don't add the $50 to the cost basis of the replacement
shares.

The consequence is that if you eventually sell the replacement shares,
you'll pay tax on $50 of capital gains that you could have avoided.
It's probably only going to be about $10, if capital gains rates stay as
they are.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***

--
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Tom wrote:
- quote -

I had a similar issue when looking at shares sold at a loss when shares
were being purchased as part of a stock dividend reinvestment. Similar,
I rationalized that the percent was so small, purchased shares less than
1% of shares sold, that the paperwork and tracking of proper wash sales
accounting made no sense. It would have negated my taking about $50 of a
$5000 loss at the time. I decided to risk it, trusting that coming after
me for the $15 difference is not what they are going after, and long
term, it would cancel out. That said, no one here should advise you to
ignore preparing proper returns.
Joe

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >