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Author: tomwmays Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121481  
Subject: Re: 30-day repurchase? Date: 1/9/2001 12:12 PM
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zman49....I pulled this excerpt out of one of your links:
"So, remember: the wash sale rules really only apply when the transactions bridge two tax years. You can trade all you want throughout the year, but if you close out your position prior to the end of the tax year and stay out for the required period of
time, the wash sale issues are really not important. But, if you hold on to just one little share into the new tax year, you can look forward to making a bunch of wash sale computations."

Could you help me to understand this? I bought PMCS back in the spring of 2000, watched it dip quite a bit below my by point, sold it, then bought it back within 30 days, not being aware of the wash rule at the time. I had a ~$3000 loss from the first buy/sell transaction. I sold all my shares of PMCS about two months later and took a smaller loss, but this sell was beyond the 30 day period. I have not touched the stock since. Now it is 2001. According to the quote above, I should be able to claim the initial $~3000 loss because I sold out of my position entirely before the year was out. Am I correct in this? Thanks for your help.

TWM
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