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Technology Stocks : COMS/USRX
COMS 0.001300.0%Nov 4 10:50 AM EST
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To: Wayne Lian who wrote (1089)3/26/1997 8:31:00 PM
From: James H. Williams   of 1384
 
Want some really good tax advice????? Don't get tax advice from here (or anywhere where the people giving it are not accountable and/or you can't point to some section of instructions or law to support your calculations).

It turns out that david decamp is correct about the FIFO rules unless you can specifically ID the shares you are selling. This info is readily available in Pub 17 as well as, say, TurboTax help. I'm not so sure about what his accountant told him, although it appeals to me greatly, and I suppose you can do anything within reason if your expectation of ever having to explain it is low.

The person who told you you can do FIFO, LIFO, etc. is wrong unless they can provide the source of that info. Be careful! When you're doing time in Joliet or paying 30% per whatever penalties, the people tossing out the faulty advice will be going, "Darn."

Hope this helps...
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