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By the ways, as to which is right, open or close of 1/2/2001, common sense (which doesn't necessarily apply to IRS matters) suggests it should be the open, since that way people could use the values listed on their closing statements for 2000. Finding the closing values for 1/2/2001 is a pain, even if you know how to do it (I've never even tried to see if I can get an historical quote for a mutual fund).

Actually, it's just the opposite. Common sense says use the 1/2/01 close. The 1/2/01 open is not necessarily the same as the 12/29/00 close (for mutual funds it is, for stocks it rarely is). Remember, the "open" is the price of the first trade of the day, not the last trade of the previous day.

Very few newspapers list opening prices. There are plenty of off- and on-line sources for historical closing prices. Just look at any good newspaper dated 1/3/01 for the 1/2/01 closing prices.

Ira
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