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Re: choo choo trader post# 6422

Tuesday, 12/26/2006 2:34:27 PM

Tuesday, December 26, 2006 2:34:27 PM

Post# of 17378
Sale Date not Settlement Date, choo chho!

Remember that when you buy and sell stocks and mutual funds, the important date for tax purposes is the trade date -- not the settlement date. The trade date fixes both your holding period (for short-term and long-term purposes), and the year in which the sale must be reported. Many people are still under the mistaken impression that the "settlement" date controls the trade. It's simply not true. When planning your tax moves for stock and mutual fund transactions, make sure to focus on the trade date. http://www.fool.com/taxes/2000/taxes001124.htm



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