jefother
in response to
by
posted on
Oct 15, 2007 02:10PM
As I have suggested before, have you considered doing a series of "wash sales" to average lower and get a tax deduction for those high priced shares?
For example, if I had 100,000 shares at an average of 4.50, I might sell 5,000 today, then buy them back after 30 days (as meticulously explained a few days ago) and repeat until my average cost basis was lowered, and I sold them all over a quite a few months at a loss.
By only selling 5,000 (as an example) I limit my potential additional loss in the unlikely event that within the next 30 days the pps goes up to my average of 4.50, and I have to buy them back before the wash sale deduction is allowed.
It works on paper, anyway, and if I understood that explanation correctly from a few days back, I might even be able to do some of the buying before I had to sell as single share... removing the potentional that I may have to buy back as the price increases.. but I would re-read that again to be sure.
Just a thought...