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<DIV><FONT color=#000000 size=2>A friend gave me a book, Roaring 2000s, by
Dent. Never heard of him. Any comments.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Thanks</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Mon Feb 22 21:07:15 1999
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Subject: Harry S Dent
Date: Mon, 22 Feb 1999 20:03:16 -0800
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<DIV><FONT color=#000000 size=2>A friend gave me a book, Roaring 2000s, by
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<DIV><FONT color=#000000 size=2>Thanks</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Mon Feb 22 21:07:13 1999
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From: "Andrew" <andrew@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Wash Sale Rules
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Does this apply to futures also? I understand futures are treaded
differntly.
thanks
Andrew.
-----Original Message-----
From: Dan <buchach@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, February 22, 1999 7:57 PM
Subject: Re: Wash Sale Rules
>Thanks for your explanation - what this appears to me to mean is that if
one
>daytrades stocks, or even trades in and out every few days, one could not
>simply net out all profitable trades and all losing trades at the end of
the
>year and pay taxes only on the net gain or loss like you can with futures-
the
>short term stock trade losses would be not be able to be used if the same
>stocks was repurchased within thirty days. This would greatly increase the
tax
>bill - am I interpreting this correctly? Seems like this would make it
>impossible tax-wise for daytraders.
>
>Are any of you stock daytraders out there dealing with this situation?
>
>Thanks, Dan
>
>Richard wrote:
>
>> >Could someone please help exactly what the IRS "wash sale" rule means,
>> >and the tax impact to a stock day trader that goes in and out
>> >frequently?
>> >
>> >Thanks in advance, Dan
>>
>> It means that if you want to take a loss on a stock for tax purposes, you
>> cannot purchase that same security in "like and kind" for at least 30
days.
>> This is to prevent people from getting a deduction without parting with
the
>> stock for at least awhile.
>>
>> Could have impact for day trading. If you claim a loss for a transaction
>> and you repurchased the stock within 30 days, that loss could be
disallowed
>> under the wash sale rule. In that case, for tax purposes, your capital
gain
>> or loss will be treated differently.
>>
>> The IRS site has details.
>
>
>
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