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Author: baddbob Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121175  
Subject: Can I Buy then Sell in < 30 Days? Date: 9/10/2001 1:50 PM
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A hopefully quick question:

I know if I sell a stock I have to wait thirty days to repurchase it, but if I purchased high and then purchased more when it dropped. Do I have to wait more than thirty days to sell the the original shares, or can I take the loss sooner?
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Author: euphoriant Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53968 of 121175
Subject: Re: Can I Buy then Sell in < 30 Days? Date: 9/10/2001 2:17 PM
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I know if I sell a stock I have to wait thirty days to repurchase it, but if I purchased high and then purchased more when it dropped. Do I have to wait more than thirty days to sell the the original shares, or can I take the loss sooner?

I assume you're trying to avoid a wash sale.

If you specify which shares you are selling BEFORE you sell them, and the original shares have been held longer than 30 days and you are only selling those shares, then yes you can sell them and avoid the wash sale rule.

Good luck,
e

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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53980 of 121175
Subject: Re: Can I Buy then Sell in < 30 Days? Date: 9/10/2001 3:59 PM
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If you specify which shares you are selling BEFORE you sell them, and the original shares have been held longer than 30 days and you are only selling those shares, then yes you can sell them and avoid the wash sale rule.

I'm afraid this could be misinterpreted. The wash sale provisions don't depend on what shares you sell. They kick in if you buy shares of the same stock within 30 days either side of the loss sale, regardless of when those shares were acquired.

Remember, though, that there's no wash sale if you don't retain a position in the stock. If you wind up with no position in the stock after the loss sale and remain out of it for 30 days, it doesn't matter if you held the shares 30 years or 30 seconds--the wash sale rule doesn't apply.

Phil Marti
VITA Volunteer

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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53981 of 121175
Subject: Re: Can I Buy then Sell in < 30 Days? Date: 9/10/2001 4:01 PM
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I know if I sell a stock I have to wait thirty days to repurchase it, but if I purchased high and then purchased more when it dropped. Do I have to wait more than thirty days to sell the the original shares, or can I take the loss sooner?

Yes. If you purchase shares of the same stock within 30 days either side of a loss sale, the wash sale rule applies. It doesn't matter which shares you sell. (This assumes you retain a position in the stock 30 days after the loss sale.)

Phil Marti
VITA Volunteer

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