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Author: mammerjammer Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Help: Using a loss to offset tax liability Date: 10/23/2000 10:28 AM
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In march I put a bunch of money in tech stocks right before the fall. To make matters worse, I did so with one of those full-price brokers, so I'm paying over $100 year in fees to boot. Since then I've seen the Foolish light.

I think I need to get out of those tech stocks and out of that high cost brokerage but the fact that they're down more than 20% makes me hestitate. Then I wondered if I could offset the loss with some tax savings. You see, I also made some money this year with some stock options ... short term gains that I expect to owe taxes on. The amount I'll owe in taxes is about twice the loss I see in the tech stocks portfolio.

Should I sell the tech stocks, declare a loss, and use it to offset my gains elsewhere? I'm worried about running afoul of wash sale rules or something similar. HELP!
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