Here is a serious question. Is settlement date important for 2012 tax selling?
On short positions, use the trade date for gains and the settlement date for losses. On long positions, use the trade date for gains and losses. In other words, unless you are covering short positions for gains in which case the settlement date comes into play, you just need to assure any trades are actually executed by end of trading December 31st for the gains or losses to count towards 2012 taxes.
Sentiment: Strong Buy
Serious and accurate answer - please read IRS Publication 550. Last day to sell for gain or loss for tax purposes for 2012 is Monday 28 December 2012.
"For securities traded on an established securities market, your holding period begins the day
after the trade date you bought the securities, and ends on the trade date you sold them."
Example. You are a cash method, calendar year taxpayer. You sold stock at a gain on December 28, 2012. According to the rules of the stock exchange, the sale was closed by deliveryof the stock 3 trading days after the sale, on January 3, 2013. You received payment of the sale price on that same day. Report your gain on your 2012 return, even though you received
the payment in 2013. The gain is long term or short term depending on whether you held the stock more than 1 year. Your holding period ended on December 28. If you had sold the stock at a loss, you would also report it on your 2012 return.
that is true. it's the settlement date. if you buy today, it doesn't matter unless you sold today. If you start selling tomorrow, those settle on jan 2nd and won't be in 2012 taxes. so I don't short but if the short starts out with a sell and then buy back shares, I guess the dec. 31st short would be on there but how can you calculate the gain on that so I'd say today's trades (sells) only matter. they have to be round trips to be on a tax year.