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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Investor2 who wrote (2214)11/21/1998 12:57:00 PM
From: marc ultra  Read Replies (1) of 15132
 
I2,re:<<

Re: Documentation of what block you sold, when you sold it, at what price, etc.

If I remember correctly, the purchase date must be written directly on the capital gains tax form (Schedule D?).
Doesn't this specify which block was sold?>>>

The issue isn't how you fill out your tax form but that if you are designating specific shares for selling you have to be able to show the IRS that this was your intent AT THE TIME OF SALE. So you are supposed to notify your broker at the time of sale which shares you designate so it can be printed on your confirmation or otherwise noted in such a way that you can't change your mind later and use another method to figure your sale with. With internet and other discount brokers this can often be a problem

Marc
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