Cut Off Tool / Parting Tool

Yes, my lathe uses the 1/4" tool post like the rest of your lathes. I do have one tool post from you that you made 3/8" so I could mount your tip shaping tool in it.
That one is just making to to where the 3/8 could sit up higher. You need one that allows the 3/8" to sit lower on center.
 
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