taxes: wash sale question

[IHateMyJob2004]

I have a question about cost basis on a wash sale.

Lets say I did this:
bought ABC on 1/1/2001 for $100
sold ABC on 8/8/2007 for $80 ($20 loss)
bought ABC back on 8/9/2007 for $60

My cost basis is $80 ($60+$20), but what is my purchase date for the 8/92007 purchase?

Is it 8/9/2007 or is 1/1/2001 to be used?

 

[IHateMyJob2004]

Found my answer, took some digging, but it was what I had expected:
Holding Period

When you make a wash sale, your holding period for the replacement stock includes the period you held the stock you sold. This rule prevents you from converting a long-term loss into a short-term loss.

Example: You've held shares of XYZ for years and it's been a dog. You sell it at a loss but then buy it back within the wash sale period. When you sell the replacement stock, your gain or loss will be long-term ? no matter how soon you sell it.

In many situations you get more tax savings from a short-term loss than a long-term loss, so this rule generally works against you.