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 (685)	2/1/1999 6:14:00 PM
From: Spots	Read Replies (1) of 1383

>> I'm surprised Quicken won't calculate gains and losses on a short sale correctly. You need to contact them directly ... Fat chance. Arrogant bunch in the first place, and in the second place there just isn't enough demand. Not one in 10,000 trades short or frequently enough for wash sales to matter, and probably only a small fraction of that has hedges and options. Collin says most at the IRS don't understand a wash sale, and I have no reason to doubt it. Quicken stock stuff is a joke, anyhow; what a mess. IRR is a laugh, and try to enter a broker transfer if you want a real yuk. Options? Forget it. How about a simple little ISO? Tell me another one. I wonder if there really is a big enough market for these transactions to make it worth doing right; just bookkeeping, I mean. That's the real problem, IMO; tiny market, it would cost too much. Turbotax doesn't do washes either, I hear. Why am I not surprised ... <g>.

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