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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: TheInvestor who wrote (19272)	12/29/1997 4:55:00 PM
From: Larry S.	Read Replies (1) \| Respond to of 42771

Trade date determines loss or gain. My understanding is that the trade date is the relevant date. A trade done today, tomorrow or Friday would settle in 1998 but the gain or loss would count in 1997 if desired. The brokerage firm may or may not report these late traces on the 1099 for 1997. If not reported, a note would have to be attached to the schedule D to explain the difference. larry

To: TheInvestor who wrote (19272)	12/29/1997 5:16:00 PM
From: icanpickem	Respond to of 42771

YOUR ACCOUNTANT IS INCORRECT. THE TRADE DATE IS THE DATE OF RECORD AND IT APPLIES TO BOTH GAINS AND LOSSES. ABOUT TEN YEARS THE LAW WAS CHANGED.

To: TheInvestor who wrote (19272)	12/29/1997 10:21:00 PM
From: dwight vickers	Read Replies (1) \| Respond to of 42771

I would get a new tax accountant. It is the trade date that matters, law being changed several (not ten, I don't believe) years ago. It's great for us to debate this, but a tax guy not knowing is inexcusable. Hope he's cheap. Dwight

To: TheInvestor who wrote (19272)	12/29/1997 10:57:00 PM
From: George Papadopoulos	Read Replies (1) \| Respond to of 42771

"It sounds like uncle Sam has a double standard when it comes to capital gains laws. "What a ripoff deal". The way the whole tax law is written, especially after the Tax Relief Act of 1997(for CPAs, accountants, tax attorneys, tax software companies and H&R Block<gg>), is a ripoff deal. Please don't get me going on this issue. I have been dealing with this irrational beast for maybe too long now. For the record, I support MAJOR tax reform. Oh, you still got a day and a half to sell NOVL and get a tax loss<g> George P.S. Is your accountant a CPA? "Never Underestimate the Value"