Tom said on x00 lot trading:
:I only trade x00 share lots (to keep my life simple at tax time). Along with this I always "round down" on either
buying or selling. In other words, if I'm getting a Sell signal for 175 Shares of my favorite equity, I just sell 100. This goes for buying as well. A buy signal for 480 shares gets only 400.:
And since ALL of my AIM activity is in IRAs, I do EXACTLY what Newport or my spreadsheet says, if that is 26 shares or 126 shares, or 426 shares, that will be the size of my order. Even if it were taxable, with the Merrill Lynch Tax Reporting Statement, I still would have no qualms about entering odd lot orders.
Quicken, Money, Managing Your Money, any of the personal financial packages for your computer will keep track of your profit/loss on each sale and produce a report that makes filling out the tax return simple, if a bit long.
Basically, this gets down to a transcription issue only. Tom objects to spending the time to document trades of odd lots to the IRS. I see AIM first in my priority list, taxes are WAY down the list (even though I work for HR Block during tax season). Tax time rolls around just once per year, and I have LOTS of tools to help me thru that event.
Robert - Mr AIM Aggressive |
