US Tax question (disclaimed as usual):

My wife put money into a semi-annual reinvesting investment, I believe
a Unit Investment Trust (although I'm unsure) back in 7/1999.  It has
lost money year on year since then (poor economy).  Since the money
was taken from one trust that expired and put into another trust
(fewer shares at a higher rate) each year in July, I'm kind of
confused about how to treat it tax wise.

She never took losses on her past years' taxes - should she have?  Or
have these reinvestments been like wash sales where the original price
on the original investment takes precedence since the money was
reinvested within 30 days after each redemption (usually like 1 or 2
days).

The reinvestment has stopped and the money is being held in a money
market fund now.  Do we simply take the loss against the last purchase
in 2002 vs. the redemption in 2003? Or can we take the loss against
1999's purchase price?

Finding the answer to my question on the internet has been cumbersome
and fruitless, and I consider myself to have excellent Google-kata. :(