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To: Chris who wrote (39293)	12/26/2000 12:48:35 PM
From: donald sew	Read Replies (3) \| Respond to of 42787

Chris, >>>> today is last day to do tax selling. <<<< I checked it with 2 brokers(GRUNTAL and a small independent) and they confirm the same, that FRIDAY is the last day for individuals to do their tax loss selling, but today is the last day for the professional traders(mutual funds/brokers) due to the 72 hr settlement. As for the market/NAZ, that could be a good thing since today is the last day for the big boys to sell for tax loss, although the individual have until FRIDAY.

To: Chris who wrote (39293)	12/26/2000 12:54:18 PM
From: brettf1	Read Replies (1) \| Respond to of 42787

Reporting rules, Securities Transactions This is what my tax software says. Note the interesting nuance for covering short sales with a loss though. "When purchases or sales of stock are made through a stock exchange, there are always two dates involved: the trade date and the settlement date. The trade date is the date the transaction is entered into and the settlement date is the date payment is made and the stock delivered. The settlement date is usually five business days after the trade date. The holding period of stock is measured from the trade date. For example, if you bought 100 shares of Continental Shelf on June 28, 1999, and sold it on June 29, 2000, gain or loss would be long-term, because from trading date to trading date was one day more than 12 months. Gains and losses are realized on the trading date. If you sold Continental Shelf on December 29, 2000, you would report the gain or loss on your 2000 return, even though you did not receive any cash until the settlement date in 2001. Losses on short sales are not deductible until the settlement date. (A short sale occurs when you sell stock you don't yet own in hopes of buying it at a lower price before you have to deliver it.)" Brett