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Corrections Corporation of America Message Board

  • pkn4mom pkn4mom Oct 2, 2000 11:52 AM Flag

    tax wash rule

    Will the conversion count as a purchase of common
    for IRS wash rule purposes? I'm thinking that if I
    convert and immediately sell the converted common, I may
    want to call it a sale of the first shares of PZN that
    I purchased. That way I'll get to claim a loss that
    will more than offset the tax I have to pay on the
    Pref B dividend. But if the wash rule applies then I
    have to hold the converted common for a month before I
    can do this, right? My apologies if this has been
    covered already. Still undecided...currently struggling
    with the whatifs...maybe I should invest in a company
    that makes calculator batteries...

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