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Subject:  Re: Wash sale question Date:  5/24/1999  1:02 PM
Author:  rjm1 Number:  15673 of 127614

gave shares of Intel stock to my church last year. I want to give the rest of my
Intel stock later this year. I still want to own Intel, but in my IRA account, so I
am going to buy some more some time this year. Does the wash sale rule apply
when I am giving away the stock, or just when I sell it? Is there anything special I
need to watch out for?

Wash sale is for losses only.

From your question you must have a gain (if you had a loss it would be better to sell the stock, give the cash away and take a tax loss on your tax return) in the Intel stock. Therefore no wash sale rule.
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