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Affymax, Inc. Message Board

  • t0m.mirabit0 t0m.mirabit0 Nov 18, 2013 7:05 AM Flag


    If you sell for a loss how long must you wait before you can buy again?

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    • sup with the taxes?

    • 30 DAYS.

      Sentiment: Strong Buy

      • 2 Replies to jagan1961
      • "30 DAYS."

        Just to be clear, i think you can't buy back until the 31st day after sale to avoid the wash. I'm not certain though, it's been a long, long time i had to worry about it. All my stuff's in regular ira and roth. I learned after doing my taxes for the first year i took an active trading approach to the market.

        By the way, sometimes it pays to buy 31 days before selling back rather than selling 31 days before buying back. You wouldn't want to be without any affy exposure if omontys gets good news before you can get it back - lol Just make sure you designate your original shares as fifo, first in, first out, so you can use the purchase price of those to match against the sales price.

        All this with the following warning. I am not an accountant, and you should verify any information i give, in case you may want to use it, with someone who's in a position to know for sure. If this was gwp giving the advice would you trust it without verifying? Why do so many of you trust his non-professional take on the pharmacology of omontys, especially when he has never, as far as i know, taken direct part in takeda's research on the drug. At least i've done my own taxes before and was directly involved with avoiding wash sales.

      • If you have another account of your relative, not your spouse (if you are joint filing), then you should use it. You can open in your for example, to your Dad Or moms account and the sale price will be today's closing price.

        Then you don't worry of buying back. After a month ask them to trfr it back. If it goes up, then when your parent sells, they will have to pay taxes.

        GLTA LONGS!

        Sentiment: Strong Buy

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