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

To: NASDBULL who wrote (1658)12/28/1998 10:20:00 PM
From: Investor2  Read Replies (1) | Respond to of 5810
 
I believe the sale date is what counts for capital gains, not the settlement date.

Best wishes,

I2



To: NASDBULL who wrote (1658)12/28/1998 10:30:00 PM
From: WallStBum  Read Replies (3) | Respond to of 5810
 
For capital gain (loss) purposes, it's the transaction date, NOT the settlement date. My understanding of the reasoning is that you've essentially changed (in your case eliminated) your investment/market risk on that transaction date. The settlement date just allows your brokers time to effect the transaction.

dax


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