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Re: DesertSon post# 6423

Tuesday, 12/26/2006 2:04:39 PM

Tuesday, December 26, 2006 2:04:39 PM

Post# of 17378
Well, I'm glad we cleared that up for you. I'm sure you can do your taxes feeling totally confident that the IRS won't be knocking on your door with an arrest warrant.

I will tell you this: I take my taxes to my accountant, and the accountant always goes according to the dates that I bought and sold the stock, not the settlement date. That pertains to year-end tax losses and determining whether or not I have a short-term or long-term gain or loss. It's also what the courts use in determing whether or not trades fall into class action suits (I've had a few of those too). They always ask for the "trade date" as shown in the tax forms.

If you're still in doubt, I guess the best thing to do is ask a tax accountant or call the IRS.

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