Discussion:Sale purchase of stocks security
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Discussion Forum Index --> Advanced Tax Questions --> Sale purchase of stocks security
Discussion Forum Index --> Tax Questions --> Sale purchase of stocks security
| 3 May 2008 | |
| my client receives a notice from the IRS because of unreported sale of security. my client believes that, because on the same day of sale she bought another security (stocks) corresponding to the amount of proceeds from sale, she did not give it to me during the tax preparation. my question is, since she received 1099-B, this must be reported in Schedule D; however, how am I going to treat the re-investment? | |
Death&Taxes (talk|edits) said: | 3 May 2008 |
| "Client"????? Are you her doctor, her mechanic or gardener? Your question is too basic for a person doing taxes, and it is the same thing I hear from 'clients' who move money from one mutual fund to another: 'but I just reinvested it.' Reinvestment has nothing to do with it. Report the gain or loss on the security that was sold and IRS will be happy. | |
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