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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.

gt5037c
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I'm not the tax guy, but yes, you can use the losses to offset any gains you have had during the year.

Cheers -

george
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I'm not the tax guy, but yes, you can use the losses to offset any gains you have had during the year.

Cheers -

george


Thanks george.

gt5037c
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The accounts I have at B&H are custodial accounts. Do you know if there is anything special that has to be done to transfer accounts?

Thanks.
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