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


To: Mongo2116 who wrote (1726)1/3/1999 3:30:00 PM
From: Colin Cody  Read Replies (2) | Respond to of 5810
 
Gene, I bought and sold a stock on xmas eve, settlement date is 1/4, does the gain go into 98 or 99 taxes.

Actually T+3 from Christmas Eve was December 30th, (the old T+5 rule that you might be thinking of went away quite a while ago)

but regardless, the TRADE day is used for US Individual taxes.
So even a sale on new Year's Eve counts as a 1998 sale.

Colin