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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: voodooist who wrote (3597)1/30/2001 2:58:58 PM
From: Nutty Buddy  Read Replies (3) of 5810
 
Fred or anyone, another IRA/Non IRA question:

I use the FIFO method for calculation gains. In the following scenario:

1/1/2000 Buy 1000 shares XYZ @ $20 in IRA
6/1/2000 Buy 1000 shares XYZ @ $10 in Non IRA

9/1/2000 Sell 1000 shares XYZ @ $17 in Non IRA

Is it true that I can claim the $3000 loss based on the FIFO rule even though I pocket a $7000 gain in my Non IRA account?

Buddy
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