i'm not really familiar with wash sales so here's my
question. i have some shares of HRH that i bought at close
to $40. right now it's NAV is about $32. can i sell some of
my shares of HRH (at a loss) and turnaround the next day and
buy some shares at the current price? or do i have to wait
30 days? if so, why? thanks for any help. kim

>...can i sell some of
> my shares of HRH (at a loss) and turnaround the next day and
> buy some shares at the current price? or do i have to wait
> 30 days? if so, why? thanks for any help. kim

Hi Kim,

Since Ira seems to be missing in action tonight <G> let me try to answer
this. The answer is yes, you can buy it back the next day. But if you want
to be able to take the loss on your taxes, the IRS says you must wait 31
days before you buy the stock back. Note that was 31, not 30.

Lynn Ostrem, Minneapolis
garbagecop@foxinternet.net

thanks so much lynn. now it makes sense. well i'm off to
sell some shares...thanks again! kim

Garbagecop wrote:
> >...can i sell some of
> > my shares of HRH (at a loss) and turnaround the next day and
> > buy some shares at the current price? or do i have to wait
> > 30 days? if so, why? thanks for any help. kim
>
> Hi Kim,
>
> Since Ira seems to be missing in action tonight <G> let me try to answer
> this. The answer is yes, you can buy it back the next day. But if you want
> to be able to take the loss on your taxes, the IRS says you must wait 31
> days before you buy the stock back. Note that was 31, not 30.
>
> Lynn Ostrem, Minneapolis
> garbagecop@foxinternet.net