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Investing/Strategies / Pseudo Drip
|Subject: Transfer from B&H to SB and taxes||Date: 1/15/2002 5:21 PM|
|Author: gt5037c||Number: 240 of 244|
It's been a while since I've been on this board, but I believe this question is appropriate here. I'm going to post a similar message on the Tax Strategies board.
Like many other users on this board, I got tired of B&H's mandatory monthly fees. I just wasn't buying enough stocks to justify the fees. So, I closed my B&H account, opened a Sharebuilder account and transfered the (whole number) stocks into it. The fractional stocks that did not transfer were converted to cash, and B&H mailed me a check. Given the tanking of tech stocks over the past year, I had six different (fractional) stocks that I had to sell at a loss to completely close out my B&H account.
So here's my question: Can I take advantage of selling these stocks at a loss on my taxes?
Any advice would be appreciated.
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