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Non-Tech : Datek Brokerage $9.95 a trade
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To: Night Trader who wrote (16760)6/12/2003 4:13:23 PM
From: Bob Rudd  Read Replies (1) of 16892
 
Martin, I'm not sure logic has anything to do with the tax code...It looks, though, like the brokers won't be held responsible for reporting 'in lieu' payments from shorts until next year and that investors won't be held responsible for the higher tax unless they are made aware that the payment is 'in lieu' as opposed to a direct dividend payment. Another tidbit I found out today is that dividends on stocks held for less than 60 days won't receive the favorable tax treatment.
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