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Author: 16bobby Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121338  
Subject: wash sale rule satisfied BUT... Date: 12/30/2002 9:37 PM
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Another Wash Sale Rule problem!

As of january 1, 2002 I have 3000 shares of xyz corp. I purchase an additional 1500 xyz shares on Dec. 2, 2002. Not thinking, I sell 1500 xyz corp. an Dec. 30 for a $5000.00 loss. I think 'wash sale rule' is in effect because 1500 shares bought on Dec. 2 are considered replacement shares to the 1500 xyz shares sold on Dec. 30.

Now if I sell another 1500 xyz shares on Dec. 31, 2002 for the approximate same $5000.00 LOSS can I Now take THIS loss off my 2002 tax return? If not, please explain why?

Many thanks for the needed HELP.
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