Trade date vs settlement date

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

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.
"JJ" <ok@ono.net> wrote in message
news:YHm2i.20748$YL5.2464@newssvr29.news.prodigy.n et...
> 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
>

Thanks!!

"Paul Maffa" <pmaffia@centurytel.net> wrote in message
news:V-WdnVUv3dVYs9fbnZ2dnUVZ_v6tnZ2d@centurytel.net...
> 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.
> "JJ" <ok@ono.net> wrote in message
> news:YHm2i.20748$YL5.2464@newssvr29.news.prodigy.n et...
>> 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
>>
>

	#1
JJ	Trade date vs settlement date 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

	#2
Paul Maffa	Re: Trade date vs settlement date 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. "JJ" <ok@ono.net> wrote in message news:YHm2i.20748$YL5.2464@newssvr29.news.prodigy.n et... > 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 >

	#3
JJ	Re: Trade date vs settlement date Thanks!! "Paul Maffa" <pmaffia@centurytel.net> wrote in message news:V-WdnVUv3dVYs9fbnZ2dnUVZ_v6tnZ2d@centurytel.net... > 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. > "JJ" <ok@ono.net> wrote in message > news:YHm2i.20748$YL5.2464@newssvr29.news.prodigy.n et... >> 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 >> >