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URL:  http://boards.fool.com/is-this-legal-15676530.aspx

Subject:  Is this legal? Date:  9/2/2001  10:37 AM
Author:  iggywayne Number:  53756 of 121061

I was thinking of employing the following strategy.
I buy, say $5000 of ATTT. It goes up 20% in the first year, to $6000. I sell $5000 worth of it and report a cost-basis of 5000 -- no cap gain. We'll assume it stays up. I hold the remaining until the 18-month minimum has elapses. I sell this for $1000 or so, and report a cost basis of zero, so I pay the long-term rate on the $1000 profit.
Is this comprehensible? Legal? Brilliant?
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