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Author: cawc Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: wash sale Date: 1/30/2002 6:31 PM
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Could someone please give me their advice? My husband and I are playing with a bulletin board stock of a company we believe will eventually go somewhere (don't ask why we believe). We have only purchased stock and this is the first sale we have done. Obviously, I have nailed myself with a wash sale situation. I am wondering if anyone has any suggestions. We wanted to take the loss, but I don't think we can. However, can we take the small gain from the buy/sell in jan/01 only, pay the taxes on it and hold on to the earlier buys for a possible loss later? Also, does it matter which "lot" I specified to the brokerage to sell since it is not reported anywhere?

Here's my buy/sell history in company xyz:

2/17/00 buy 1000 @ 1.45 with costs total 1469.95
2/24/00 buy 3350 @ 1.07 with costs total 3604.45
3/9/00 buy 1100 @ .99 with costs total 1108.95
6/6/00 buy 4550 @ .345 with costs total 1589.70
1/3/01 buy 19000 @ .059 with costs total 1140.95
1/16/01 sell 15000 @ .102 minus costs total 1510.05

thanks for you help
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