Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (27475)	12/25/2000 9:49:53 AM
From: starbreak	Respond to of 53068

I don't know about 1099 I file 1040 schedule C and it would be listed as capital gain/loss year 2000.

To: chartseer who wrote (27475)	12/25/2000 9:50:16 AM
From: Larry S.	Respond to of 53068

If you sell a stock with trade date in 2000 and settlement date in 2001, you actually have a choice what year to claim the loss or gain. The brokerage firm's 1099-B will reflect settlement date trades. If you sold and had settlement in 2001, you could still claim that gain or loss on 2000 tax return, but would have to add a note explaining why you are reporting a transaction that does not appear on the 1099. If you report this trade in 2000, (which settled in 2001), you would receive a 1099-B in January 2002 showing that trade. You would then again have to add a note on your tax return explaining that you already reported that transaction on the previous year's return. all legal. bit of a pain. alternative is to request a sale be settled on "next-day" rather than T+3 (trade date + 3 days), Not sure how equipped on line brokers are for next day settlements or if extra cost. larry