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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Mama Bear who wrote (54390)4/12/2000 7:11:00 PM
From: Puck  Read Replies (3) of 122087
 
A question to Mama Bear, Anthony, or anyone about reporting short sales for income tax purposes when the short position is closed in a different year than it was opened. I'm new enough to short selling that this is a new experience for me. I initiated several short positions last year that are still open. I understand from IRS Pub. 550 that capital gains or losses resulting from short sales are reportable in the year the position is covered. However, I noticed that my broker is reporting these short sales on my 1999 1099-B even though the positions ended the year open and thus did not result in a taxable event. I'm wondering how to report these sales on my Schedule D.
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