IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: WallStBum who wrote (666)	2/1/1999 7:52:00 AM
From: Mark Ivan	Read Replies (1) of 1383

WallStBum, So I am finding out that TurboTax does not handle wash sales. What a bummer. It handles the easy stuff, big deal. Quicken is good, but has a bug in it for those who sell short. IF you do staight shorts or covered calls, Quicken does not calculate the return right. It has a problem with the sell date being before the buy date, and thus calculates a negative return on a winner and vive versa. I have told them about this and they are looking into it. So what do you do with wash sells??? How in the heck do you figure out the cot basis? No throw in some options and protective puts (which I think qualify as a straddle) and you have one, huge mess. HELLPPPPPPPPPP!!!!!!!!!!!!!!!!! There has got to be a program somewhere that helps! Mark

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