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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

SNDK 215.03

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Nov 26 3:59 PM EST

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From: reddy_s	12/16/2017 2:35:35 PM
	1 Recommendation Recommended By franklin1 Read Replies (1) of 4833

Looks like the enforcement of First-in-first-out tading rule is taken out from the final tax bill, which is good for individual investors who trade some positions around their core positions of a stock. House Bill No provision. Senate Amendment The provision requires that the cost of any specified security sold, exchanged, or otherwise disposed of on or after January 1, 2018, be determined on a first-in first-out basis except to the extent the average basis method is otherwise allowed (as in the case of a taxpayer holding shares in a RIC). The provision does not apply to sales, exchanges, or other dispositions of specified securities by RICs. The provision includes several conforming amendments, including a rule restricting a broker’s basis reporting method to the first-in first-out method in the case of the sale of any stock for which the average basis method is not permitted. Effective date.-The provision applies to sales, exchanges, and other dispositions after December 31, 2017. Conference Agreement The conference agreement does not include the Senate amendment provision. docs.house.gov

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