Trade date vs settlement date


J

JJ

IRS-wise is it correct to use the Trade Date as the reported date a security
is purchased? My broker takes 5 business days between the trade date and
the settlement date and in this case that would be the difference between a
long and short term gain on a stock I sold.

Thanks
Joe
 
P

Paul Maffa

You are required to use the trade date.

And if I am not mistaken, NASD rules require your broker to settle in 3
business days.
 
Ad

Advertisements

J

JJ

Thanks!!

Paul Maffa said:
You are required to use the trade date.

And if I am not mistaken, NASD rules require your broker to settle in 3
business days.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top