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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121335  
Subject: Re: short term loss Date: 12/20/2000 11:13 AM
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If you take more losses than you have gains, remember that only $3000 may be written off against regular income.
Because short term losses are first netted against short term gains, it is better not to let losses become long term.
Be also aware that when you sell a stock at a loss, if you buy it back within 31 days you create a wash sale and the loss is deferred until you sell it again and stay out for 31 days. If you buy back a different stock you should be OK unless there is something very strange that makes the new stock "substantially equal".
Best wishes, Chris
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