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BuzzOnDaBeach

03/20/07 11:39 PM

#540270 RE: swing man #540269

It is funny to me that all the brokers report to the IRS is the sells, but the tax filer is responsible for reporting the cost basis. You buy a stock at 20, sell at 25, there's very little to stop anyone from saying they bought at 22 and reducing the short term capital gain, except fear of an audit.

Buzz