The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/bh-transfer-to-sharebuilder-and-taxes-16469535.aspx

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.

gt5037c
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us