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


To: RavMan who wrote (1586)12/10/1998 8:44:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 5810
 
Rav, And will all this be legal when I simply transfer shares to
my friend's account and use it as a loss for my 1998 taxes?


No not quite. You must transact in a bona-fide arm's-length sale of the shares, including paid compensation at a fair market value AND the mechanical transfer to a non-related friend's account.

Colin