AboutPaul Henneman Expertise Stock forecasting and fair market valuations.
Experience
Past/Present clients CBSMarketwatch.com, Hoovers.com, Multexinvestor.com, Bank of NY, numerous hedge funds and institutions, other partners and clients can be viewed at http://www.valuengine.com/about/careers.html
Question I own Circuit city stock that I bought at much higher prices than its current listing, and would like to sell some of it and take a loss, then replace that stock at the current lower price. Is that allowable?
Answer Don,
Thank you for your question! Yes, certainly it can be done. As a stock holder, you can sell your stock at any time. I would suggest going to the service or institution through which you bought the stock, they can probably take the sell order to sell it for you.
Would you be doing this for tax purposes? I am not clear on why you would want to sell the stock, the re purchase the same stock. But if you are sure that is what you want to do, it is by all means possible. I am not sure if this would be beneficial for tax purposes, you may not be allowed to book the loss if you then repurchase the same stock. You may want to ask that to a tax expert or accountant.
I hope that this helps, please do not hesitate to follow up with me if I can be of any additional service,
Sincerely,
Paul Henneman
President
ValuEngine Inc
www.ValUEngine.com
