22nd Century Group Inc (XXII)

[Justfactsmam]

streak..cant have two margin accounts with same broker...but can have two margin accounts with 2 different brokers...but I like my trading platform too much to switch...and would have to liquidate one of my accounts (incur taxes) to transfer funds.

Yes can transfer entire funds "in kind" (stock), but new account would have a zero basis (as far as the new broker's reporting). So you would have to "prove" your basis in old account (difficult accounting issue) and not declare gain in new account...which would prompt an Audit...to explain.

If you want a guaranteed audit...go for it!