Can A GAIN TAKEN ON DEC 31ST BE CARRIED INTO THE NEW YEAR?

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Can A GAIN TAKEN ON DEC 31ST BE CARRIED INTO THE NEW YEAR?

2007-12-29 00:24:39 · 4 answers · asked by julie b 2 in Business & Finance ➔ Taxes ➔ United States

4 answers

No the tax year is like the accounting year. What sales happen on any day in 2007 are recorded in 2007. Even if you do not get paid for it until 2008.

2007-12-29 04:10:21 · answer #1 · answered by Michael R 5 · 1⤊ 0⤋

No, a sale made on 12/31 still is reported in the current year. It's the trade date that counts, not the later settlement date.

2007-12-29 09:13:56 · answer #2 · answered by Judy 7 · 2⤊ 0⤋

NO. YOU HAVE TO REPORT THE GAIN THIS YEAR.

YOUR QUEATION IS NOT THAT IMPORTANT TO TYPE IN ALL CAPS.

Please use the correct case.

2007-12-29 09:30:12 · answer #3 · answered by Steve 6 · 0⤊ 0⤋

if you dont go on a diet

2007-12-29 08:40:24 · answer #4 · answered by mini_gary_kirt 2 · 0⤊ 2⤋