A foreign friend has an "in" with a pre-ipo stock that will soon go public as a US stock. They have offered to let me invest some money "through" them and give me a receipt of the transaction. Tax-wise, is this legal, or would the friend have to be a brokerage of some sort? Are the auditors going to eat me alive when I show them a typewritten receipt that was not reported to the IRS when I try to report capital gains? Any options here, or shall I follow my first instinct and say no?
a friend wants me to invest in a pre-ipo through them?
- Thread starter Joe
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