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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Ken Holbert, Jr. who wrote (7)1/1/1998 11:44:00 AM
From: Ben Graham   of 18691
 
You should not report proceeds from open shorts on Schedule D.

You should attach a statement to your tax return reconciling the proceeds reported by your broker with the proceeds reported by you.
A sample format would be as follows:

Gross proceeds from sale of securities as reported by your broker

minus proceeds from short sales in 1997 and still open at year end

plus proceeds from short sales prior to 1997 that were covered in 1997

minus sales price amounts reported on Schedule D

(result should be zero)

Hope this helps!
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