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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Tim Lumley who wrote (693)2/4/1999 9:59:00 PM
From: Colin Cody  Read Replies (1) of 1383
 
Tim, that's a catch 22. (g)

The IRS says you can identify which shares you are using the tax basis from when selling. The IRS also says the shares sold do not need be the ones represented by the actual certificate surrendered upon sale. i.e. you can substitute a certificate.

Maybe you could tell you broker you are selling shares held elsewhere for tax purposes, but you are substituting the shares he has for physical delivery purposes.

This is obscure stuff. In practice I never see an application of it.

Colin
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