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Financial Planning / Tax Strategies


Subject:  Re: Specifying Stock 2 Date:  4/3/1999  5:38 PM
Author:  PhotoPhool Number:  13556 of 123001

Thanks for the response! (Gary too.) I hadn't thought about the wash sale rule. But to tell you the truth, the short-term loss is so small, that it wouldn't much matter to me if I wasn't able to claim it. If I'm forced to use FIFO, however, the cost of this "little" mistake will be twice as much as I had originally thought. Not good. :-(

On the up side, if you're forced to use FIFO the mistake will not cost you any more than you'd have to pay eventually. You'd just have to pay the accumulated capital gains this year instead of in the future.