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Author: sacob Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121588  
Subject: wash rule Date: 6/29/2009 11:29 AM
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hello,
I just sold a REIT preferred which deals in grocery store anchored community shopping centers at a loss. If I buy a REIT preferred of a company that deals in retail outlet centers (no groceries), am I buying a stock which is so similar to what I sold that I won't be able to realize the loss?
Thank you for any help.
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Author: dusty2004 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 106405 of 121588
Subject: Re: wash rule Date: 6/29/2009 11:51 AM
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Buying a similar or nearly identical stock is not a problem. Think Exxon and Mobil. If you seel Exxon and buy Mobil you do not have a wash.

You only have a wash if you purchase the same security within 30 days.

Dusty

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Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 106406 of 121588
Subject: Re: wash rule Date: 6/29/2009 12:02 PM
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Buying a similar or nearly identical stock is not a problem. Think Exxon and Mobil. If you sell Exxon and buy Mobil you do not have a wash.
=================================
Tough to do that, though.
ExxonMobil (XOM) has been one company for several years now.

Bill

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Author: sacob Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 106407 of 121588
Subject: Re: wash rule Date: 6/29/2009 12:02 PM
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Thank you so much for your reply. Much appreciated.

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