Reply to "Looking for sale advice please."

panterapattMember

The IRS considers cashier's checks the same as cash. Your gain from the $17.5K purchase price is a capital gain. My understanding is that wire transfers are not considered "cash" by the IRS. I am in a similar situation and seeking guidance from my CPA.

Unless you plan to hide the transaction by not reporting the receipt of cash and keep the proceeds under your mattress, you should have it wired to your brokerage account.

Whether you elect to file with the IRS is your choice.

9/20/2411:27 AM

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