Re: Wash sales
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Posted by Bill on December 17, 1999 at 14:48:33:
In Reply to: Re: Wash sales posted by Mark on December 16, 1999 at 17:44:27:
: : I'd like to see FM set off some bells and whistles when a wash sale occurs. Any suggestions on how to handle wash sales on FM? : Bill,
: Thanks for the suggestion. You should handle a wash sale just like
: any other sale, as far as recording it in FM is concerned. : Thanks,
: Mark
: --
: Mark Beiley
:
: Fund Manager for Windows 3.1x/95/98/NT
:
: Mark,
I know that wash sales are handled the same way as other sales in FM. A wash sale only happens when you buy back the same stock within 30 days after selling at a loss. That's when you need some bells and whisles help. If FM could remind you (red flag) that such a buy back of the same stock is within 30 days and therefore you will need to add the previous loss to the new cost basis. All that's needed is a kind of "CHECK FOR WASH SALE" type message. This is just a suggestion to avoid year end problems dealing with capital gains losses. Thanks,
Bill
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