Firstwave Technologies, Inc. (FSTW) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Firstwave Technologies, Inc. (FSTW)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: CJ Quantumwell who wrote (196)	1/1/1998 10:41:00 AM
From: Ken Holbert, Jr.	Read Replies (2) of 1205

That's not true. The transaction date counts as the last day for tax purposes. I got burned last year before checking this out in detail. I got this information through IRS publication 550, Investment Income and Expenses. It's a free publication and provides good information for stock trading. Ken H. P.S. If you are short a stock its good to close the short before the first of the year. I have yet to find anyone at the IRS or tax profession or my broker who can show me how to put a short sales on your return that is still open. The brokers statment will have the short sale listed as proceeds on your 1099. These proceeds must be reported to the IRS on Schedule D. If the proceeds on schedule D do not match the 1099's that are provided to the IRS by you broker, then the IRS gets concerned. How do you list the proceeds when the transaction has not been completed? Anyone have the answer?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next