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To: RocketMan who wrote (57244)12/28/1999 4:25:00 PM
From: Labrador  Read Replies (1) | Respond to of 152472
 
>>Anyone know if institutional sellers are able to sell their profitable positions tomorrow, but not close for three business days, thus postponing taxes to next year? <<

The rule was changed a few years ago. Sales at both gains and losses are effective on the trade date for publicly traded property, not settlement date. So sell today, pay taxes in 1999. [The American Way] No installment sale treatment permitted on publicly traded property (e.g., Q* stock).



To: RocketMan who wrote (57244)12/28/1999 4:28:00 PM
From: Ritch  Read Replies (2) | Respond to of 152472
 
RocketMan:

My understanding is that any sale through this Friday is included in 1999 for tax purposes. It does not matter when the settlement date is.

Ritch