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Financial Planning / Tax Strategies


Subject:  Re: Is this legal? Date:  9/2/2001  12:09 PM
Author:  phooley Number:  53758 of 127616

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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