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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (635)12/15/1998 6:19:00 PM
From: mod  Read Replies (1) | Respond to of 1383
 
Spots,

Not sure I follow all of your questions, but if the shares were in different accounts, you don't have to further designate them. Obviously. broker B can't sell the specific shares held at broker A, so they must have sold the shares you bought from them. FIFO only applies within a given account, not across all your accounts.

Since you had a profit on your broker B sales, I don't see any wash sale problems.



To: Spots who wrote (635)12/15/1998 11:02:00 PM
From: Colin Cody  Read Replies (2) | Respond to of 1383
 
I agree with Dennis. If you wanted broker B to designate his sale to be of the Broker A shares THEN you'd have to have it spelled out, but the default IMO is broker B sold the shares in the Broker B account.

Colin


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