Replies to post #375266 on Fannie Mae-No Politics (FNMA)

[401kobessive]

Bingo

[401kobessive]

My question is how did all that volume blow through and pps did not move a penny....odd. that's an entire days volume.
My guess is mm had to settle their own books for end of year.

[mikoli007]

No, settlement does not matter on the sale only on the shorting side. But still all they could claim would be up to 3k, so that is not the case either.

[AISI304]

Today was the important day, jog49. See attached. IRS Publication 17 (2016) explains how it works.

https://www.irs.gov/publications/p17/ch14.html

Don’t confuse the trade date with the settlement date, which is the date by which the stock must be delivered and payment must be made.

Example. You are a cash method, calendar year taxpayer. You sold stock on December 30, 2016. According to the rules of the stock exchange, the sale was closed by delivery of the stock and payment of the sale price in January 2017.

Report your gain or loss on your 2016 return, even though you received the payment in 2017. The gain or loss is long-term or short-term depending on whether you held the stock more than 1 year. Your holding period ended on December 30.

Also: Full settlement is 3 business days after the trade date (it's called T + 3) not including holidays.