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Financial Planning / Tax Strategies
|Subject: B&H transfer to Sharebuilder and taxes||Date: 1/15/2002 5:27 PM|
|Author: gt5037c||Number: 57214 of 121179|
This question was posted on the pseudo-drip and buyandhold.com boards, but it may be more appropriate here.
Like many other users on the pseudo-drip 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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