Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Shoot1st who wrote (1607)	12/15/1998 10:35:00 PM
From: RickT	Read Replies (1) of 5810

Second and third question from a newbie: If I trade a particular stock several times - over a day or a month, do I have to report each transaction separately, or can I just lump all the costs versus sales? How will my broker (ETrade) report it? And I understand that the "Wash Rule" will prevent me from taking a loss on any stock that I rebought and hold 'till the new year. Reading that rule indicates that the LOSS adjusts the basis of the rebought shares - what about a gain? would it adjust the basis of rebought shares? Which goes back to my top question: If I apply the wash rule to several trades in the same stock, each adjusting the basis of the next, can I just lump everything together into one big gain/loss? Thanks!

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