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#3
12-30-2003, 07:04 AM
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 Re: Time frame for Capital Loss? ? ? "Joel Berry, CPA" <joelDELETE[at]sugarlandcpas.com> writes: - quote - > For capital transaction purposes, you use the trade date,
Unless the transaction is covering a short position,> not the settlement date. in which case you really do use the *settlement* date. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
12-29-2003, 09:26 PM
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| Re: Time frame for Capital Loss? ? ? "Ray Jenkins" <rayj.balt[at]DELETETHISverizon.net> wrote: - quote - > I may have waited too late to sell some depressed stock in
For capital transaction purposes, you use the trade date,> order to take a capital loss. > If I sell on Monday, the settlement date will be in the new > year. > The question is, can I claim it in 2003 if I sell Monday, or > must I wait until 2004? not the settlement date. As long as the trade is executed during 2003, you can take the loss on your 2003 return. Joel Berry, CPA Sugar Land, Texas << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
12-29-2003, 08:26 PM
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| Re: Time frame for Capital Loss? ? ? "Ray Jenkins" <rayj.balt[at]DELETETHISverizon.net> wrote: - quote - > I may have waited too late to sell some depressed stock in
If your "trade date" is Monday, December 29, you have a 2003> order to take a capital loss. > If I sell on Monday, the settlement date will be in the new > year. > The question is, can I claim it in 2003 if I sell Monday, or > must I wait until 2004? sale. The settlement date is irrelevant. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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12-29-2003, 08:26 PM
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| Re: Time frame for Capital Loss? ? ? Ray Jenkins <rayj.balt[at]DELETETHISverizon.net> wrote: - quote - > I may have waited too late to sell some depressed stock in
If you own the stock and plan on selling it, sales by Dec 31> order to take a capital loss. > If I sell on Monday, the settlement date will be in the new > year. are included on your 2003 schedule D. It's the trade date that counts. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
12-29-2003, 12:56 AM
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| Time frame for Capital Loss? ? ? I may have waited too late to sell some depressed stock in order to take a capital loss. If I sell on Monday, the settlement date will be in the new year. The question is, can I claim it in 2003 if I sell Monday, or must I wait until 2004? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| capital, frame, loss, time |
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