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Biotech / Medical : TELK -- Telik, Inc.
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To: tuck who wrote (795)12/26/2006 2:24:48 PM
From: RCMac  Read Replies (1) of 887
 
Sorry, but I thought the the settlement date of the transaction -- which often lags by a few days -- was the day that counted to the IRS.

It's the trade date, not the 3-days later (for stocks) settlement date that counts for losses on long positions. (It's apparently the settlement date for closing short positions.)

Up to a few years ago, the rule was different, or at least ambiguous, but now it's clear that the trade date is the one that counts for taking gains or losses.
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