Creep-You mean "offset" CG on some other stock loss, I assume.You were still smart selling at high,but i will wait it out and sell some ABT @ $48 EOY as Lib guarantees it.Sold some ABT @ $44.80 this year and it looks good right now but this dog can still hunt IMO.
I checked this with my Daughter before I sold HSP. She was correct about the cap gain but was able to offset most of it, smart young lady that she is.
I used to kid the kids when I made some unexpected money and say, the big bucks are rolling in!! Now, she is trying her darndest to keep the "big" bucks from rolling out.
<No He was a Commie. Al Gore's father got rich from Hammer money.I know he has an art collection like Getty's in LA but he could not be trusted. >
He was Dr. M.D. Armand Hammer, and he had an amazing life including providing the first tractors to the farm communes in the Soviet Union. He also founded OXY. Read his auto-biography
<Aok- Tell me how does IRS know your cost basis on a stock sale on a stock you inherited several years ago? I have never been audited and never have any red-flags which draw attention but the HSP sale comes to mind where Creeper takes the spin-off price of $27 instead of computing the real cost basis of when you got your ABT stock which in my case makes it about $6 and my CG is big? Phy has even worse a problem. >
If it is brought under question, you have to provide documention. I keep all of my monthy accountings from Morgan Stanley in binders. That is why I pay what I do for them because they keep these incredible records.
60 of uu were locked in IRS in the middle of night spinning micro-film wheels. Top security and separate bins for big shots like Presidents.
I thought that was the case. I ran to some of his minions and they were PR'ing the hell out of all of us about Hammer "helpimg" the info flow, etc.
If it walks like a duck, etc..............!