You're thinking of downloading, which you can only do If you reset your tamagotchi or the batteries die. If the tamagotchi itself actually died you can't do that and you lose all of your items and points.
Hold ( A ) and ( C ) to hatch a new egg. I think you do lose items though, since at least three of my buddies tried . HOW DO YOU KILL A TAMAGOTCHI ANYWAY? IT'S IMPOSSIBLE FOR ME...