CD's
Matt or Wade,
I've got some Fed Tax Law CD's that I'd cut one of ya'll a heck of a deal on. I'll sell them to you, or let you borrow them for free if one of ya'll is interested. First come, first serve.
posted by jkluster @ 4:55 PM
3 comments
3 Comments:
PS: I can't remember for sure, but I think my basis in them is a little over $60. If I sell them I will realize a loss, but won't be able to recognize it. If you borrow them there are no tax consequences. If I were to give them away, my basis would transfer, but if there is built in loss the new basis would be Fair Market Value, but no gain would have to be reported on subsequent disposition unless the FMV rebounded to above my original basis.
James,
I will take them in exchange for a free ride in El Rojo at the next possible convience. The FMV of that will be $20 leaving you a deductible loss of $40. And you will likely need that loss this year to offset substantial gains.
Screw you guys. I'm going home.
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