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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Czechsinthemail who wrote (354)12/29/1997 3:19:00 PM
From: Box-By-The-Riviera™  Read Replies (1) | Respond to of 5810
 
day of trade is the date to use.....not the settlement date... therefore dec 31 is your last day.

joel



To: Czechsinthemail who wrote (354)12/30/1997 10:44:00 AM
From: Colin Cody  Read Replies (2) | Respond to of 5810
 
There was a OLD rule that stated it was the SETTLEMENT DATE for tax purposes. Then that got to a point where is was EITHER date... depending... And then it was SO COMPLICATED with people double reporting (in 2 years) ... or forgetting to report trades at all - done in that last week of the year, that the Service CHANGED it to the TRADE DATE.
.
Colin


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