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To: KeepItSimple who wrote (31210)12/26/1998 1:17:00 AM
From: Dwight E. Karlsen  Respond to of 164684
 
I don't make the rules, I just read them. I will dig up the link.



To: KeepItSimple who wrote (31210)12/26/1998 1:26:00 AM
From: Dwight E. Karlsen  Respond to of 164684
 
Here it is, from Pub. 550, Investment Income and Expenses:

irs.ustreas.gov

"Securities traded on an established market. For securities traded on an established securities market, your holding period begins the day after the trading date you bought the securities, and ends on the trading date you sold them. Ignore the settlement dates for tax purposes."



To: KeepItSimple who wrote (31210)12/26/1998 11:03:00 AM
From: Glenn D. Rudolph  Respond to of 164684
 
I guess this is why I pay someone else to do my taxes. :)

(assuming i'm wrong- if anyone has any confirmation please feel free to speak up!)


KIS,

You are wrong. You are taxed based on execution date not settlement. I am not stating this should or should not be correct. That is the law, however.

Glenn