[bill kenney]

On 4/29/2009 I sold 475 hares of el paso at a loss.
On 5/28/2009 I abought 500 shares of ep and then realizing my mistake I immediately sold the 500 el paso within minutes.
Can I take the loss of 475 shares of el paso on 2009 tax return?
I did no further trading in el paso for the remaonder of 2009!
WH KENNEY

[morgaine300]

What an interesting coincidence that it was exactly 30 days.

You can't take the original loss. However, that loss is added to the cost basis of the purchase. So essentially, you'll take the loss on the second sale.

Publication 550 (2009), Investment Income and Expenses