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Posted by Barry Margolin on March 19, 2008, 5:23 pm
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> > > > > However, somewhere (don't remember where) I got the
> > > > > impression that I can change from actual basis to average
> > > > > basis at any time. Right?
> > [....]
> > > Can someone point me to "chapter and verse"? I couldn't find
> > > that assertion in Pub 564. [....]
> >
> > It's the first sentence of the second paragraph on p.6: "You can figure
> > your gain or loss using a cost basis only if you did not previously use
> > an average basis for a sale, exchange, or redemption of other shares
> > in the same mutual fund."
>
> That rule says that I cannot change from average basis
> to actual basis. Yes, I knew that.
>
> I am looking for a statement that says, either overtly or
> in effect, that I __can__ change from actual basis to
> average basis at any time.
Since the rules are stated in the form of restrictions, anything they
don't specifically prohibit is implicitly allowed. They don't detail
all the things you CAN do, just the ones you can't.
--
Barry Margolin, barmar@alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***
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