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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Re: wash sales Date: 7/27/1999 5:01 PM
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In the article on wash sales, it was pointed out that by closing out all
positions in a particular stock and staying out for the required period of
time the wash sale issues are really meaningless. So is it still necessary to
figure out all the wash sales and report them on Schedule D. If not, would
it be necessary to attach a statement explaining why.

I didn't write the article, however, it makes sense that if there is no tax difference there can be no penalty for not itemizing something that doesn't make any difference and is negated by the "end of year close out" IRS rules. In other words, when you complete your 1040 you have complied with all requirements to NOT have any Wash Sales outstanding to adjust, and you HAVE made all "adjustments" with the close-outs. Ed
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