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To: American Spirit who wrote (17461)	12/28/1999 8:05:00 PM
From: bglad	Respond to of 57584

Thanks. I think I've got it now.

To: American Spirit who wrote (17461)	12/29/1999 5:54:00 PM
From: Joe Smith	Respond to of 57584

quote for you from the tax guide for 1999 returns (publication 17). SECURITIES TRADED ON THE ESTABLISHED MARKET.for securities traded on an established securities market, your holding period begins the day after the trade date you bought the securites, and ends on the trade date you sold them. (do not confuse the trade date with the settlement date, which is the date by which the stock must be delivered and payment must be made.) EXAMPLE. you are a cash method, calendar year taxpayer. You sold stock at a gain on December 30, 1999. According to the rules of the stock exchange, the sale was closed by delivery of the stock 3 trading days after the sale, on January 5, 2000. You received payment of the sales price on that same day. Report your gain on your 1999 return, even thogh you received the payment in 2000. The gain is long term or short term depending on whether you held the stock more than 1 year. Your holding period ended on December 30. If you had sold the stock at a loss, you would also report it on your 1999 return