The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Is this legal?||Date: 9/2/2001 12:09 PM|
|Author: phooley||Number: 53758 of 122846|
I buy, say $5000 of ATTT. It goes up 20% in the first year, to $6000. I sell $5000 worth of it and report a cost-basis of 5000
This is where you're off-base. You can't report a cost basis of $5000 when your actual basis is $4167.
Is this comprehensible? Legal? Brilliant?
No -- nope -- and not even.
Phooley in Phoenix
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