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satelliteguy

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satelliteguy

Re: xxxxcslewis post# 14527

Thursday, 01/09/2014 3:29:31 PM

Thursday, January 09, 2014 3:29:31 PM

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Any disposition of a capital asset is a taxable event. You can't just cancel shares - if the transaction is not done at fair market value (i.e., a legitimate buyback) it's probably a taxable gift, but I'm a lawyer, not an accountant.

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