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

To: James Unterburger who wrote (666)	2/26/1998 12:45:00 PM
From: Brendan W	Respond to of 5810

I know you can open multiple accounts with brokers who offer cash accounts. However, my broker's interpretation of federal law/regs is that you can't have two margin accounts that are titled the same way, and my broker only offers margin accounts. I trust their judgment on this matter, because they only lose by taking this position. You can have a second account with the same "primary" tax ID ... it just has to be titled differently (e.g., as a partnership or joint account). The first tax ID on a joint account is the one that gets reported to the IRS ... this will be mine. My basic business problem that's driving this solution is that I can't find another broker offering similar executions on listed stocks, margin rates, and commissions and I also want to be able to journal between my accounts.