A swap in time can save tax

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in Small Business Tax

With precious few days remaining in 2003, do you still need to realize a tax loss? Swap a municipal bond trading below your cost for another muni in the secondary market. You can claim the loss on your 2003 tax return. Caution: Make sure the bonds differ enough (different issuers, maturity dates, etc.) so the "wash-sale" rules won't apply.

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