From: owner-persfin-digest@lists.xmission.com (persfin-digest) To: persfin-digest@lists.xmission.com Subject: persfin-digest V5 #125 Reply-To: persfin Sender: owner-persfin-digest@lists.xmission.com Errors-To: owner-persfin-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes persfin-digest Saturday, January 29 2000 Volume 05 : Number 125 In this issue of the Personal Finance Digest: wash sale rules Re: tax question capital gain (on sale) questions The messages posted to the Persfin-Digest are opinions and are not intended to substitute for qualified professional advice. Subscribers should seek the services of qualified professionals for such advice. The publisher, Internet provider, and Digest contributors cannot be held responsible for any loss incurred as a result of the application of any of the information provided here. To ask questions or provide answers, send your email to "persfin-digest@lists.xmission.com". Also, you can "reply" to the persfin-digest and your email tool should fill in the same address. However, if you "reply", be sure to edit the subject field in your email to reflect your topic. Copyright (c) 1999, Jeff Salisbury POSTED SUBSCRIPTION FEE: $20/year. Payment is optional. You will not be billed. The Digest is available to all subscribers, whether or not they pay. I do not discriminate either in favor of paying subscribers or against nonpaying subscribers. If you feel that the information presented here is worth the fee, and you feel comfortable paying it, send cash, check, or money order (U.S. funds), payable to "Jeff Salisbury", to: Jeff Salisbury 65 North 1300 East Logan, Utah 84321 Payment will be acknowledged by e-mail if you include an e-mail address. Subscribe: e-mail majordomo@xmission.com, text: subscribe persfin-digest Unsubscribe: e-mail majordomo@xmission.com, text: unsubscribe persfin-digest ---------------------------------------------------------------------- Date: Wed, 26 Jan 2000 01:16:04 EST From: LDH312@aol.com Subject: wash sale rules Can I defeat the wash sale rules if I sell assets in a trust - at a loss, distribute the cash to the beneficiaries, and the beneficiaries repurchase the the same or equivalent assets. The trust takes the capital loss. Laurie - - ------------------------------ Date: Wed, 26 Jan 2000 10:54:00 EST From: Yoda84@aol.com Subject: Re: tax question Here is my tax question. On my Capital Transactions Summary it says: Entry Quantity Description Amount Merger #shares Airtouch Communications Inc $$$$ merged Vodafone Airtouch PLC Sponsored Adr Cash in Lieu Vodafone Airtouch PLC Sponsored ADR was Vodafone Group PLC Sponsored ADR $$$$ I don't know how to enter this on my tax return. The dollar amounts are included in my 1099-B for reportable capital transactions. TIA N Handler - - ------------------------------ Date: Sat, 29 Jan 2000 11:52:45 -0800 From: " " Subject: capital gain (on sale) questions Ok, I've invested for awhile, but 1999 was the first year I actually _sold_ anything - about $250,000 gross in 2 portfolios ($100,000 liquidated - one mutual fund, $150,000 from 3 brokerage mutual funds reinvested). These funds are not my personal funds but some I just started managing for an invalid relative. The problem is their paperwork is not all it could be, so some (simple?) questions below: 1. 1099 forms - all they show is the gross amount sold. So I have to calculate the capital gains on the sale of the funds myself? (how does the IRS check?) 2. a. Any way to estimate, or do I need to go back and hand calculate - the $150,000 portfolio had an initial investments in 3 funds and monthly reinvestments for over 5 years! (any ideas/way to estimate if I can't find one or more of those 60+ statements?) b. The $100,000 is not as difficult - earnings were paid out, not reinvested, but it was bought over 10 years ago - anyone know where I can get fund quotes that far back - I can probably get to within one quarter of when it was originally bought. Any help appreciated, especially any guidance on estimating if the paperwork can't be found. :( - --== Sent via Deja.com http://www.deja.com/ ==-- Share what you know. Learn what you don't. - - ------------------------------ End of persfin-digest V5 #125 ***************************** - To unsubscribe to persfin-digest, send an email to "majordomo@xmission.com" with "unsubscribe persfin-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.