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Re: Defuser post# 3396

Friday, 08/27/2010 10:52:59 PM

Friday, August 27, 2010 10:52:59 PM

Post# of 31338
That would make perfect sense,if a three holding period was in force.The 3 day settlement,is only to give the brokerage firms,time to get all there bookwork completed.Anytime you or I purchase shares in a company,our date of record is the day your trade was executed and filled.....Im sure someone will disagree with me,as that seems to be the normal...To them I would say,when you receive your year end tax consolidated 1099 form,you will notice that all the dates of your buy trades are reported to the IRS,are on the day you executed the trade,therefore,you are considered having owned those shares as of those dates.If a broker tells you otherwise,I would ask to speak to someone in their legal department,to get clarification,these brokers arent 100% right,all the time.....been there,done that.
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