Silicon Investor (SI) -- The First Internet Community

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.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (61823)	3/9/2002 4:42:59 AM
From: advocatedevil	Respond to of 70976

Sam, No and Yes. I'm still reading Taxes for Dummies, but I'll try my best to explain my understanding of how I think it will work. I believe the first time I sold shares for a gain in a taxable account is what triggered the LT or ST tax treatment. Some of the shares I sold were never traded - those should be LT gains based on the original cost and today's sell price. Most of the rest were first sold (hedged) last year - those should be LT gains based on the original cost and that first sell price last year. The bulk of my trading involved subsequent repurchases (covers) and sales (shorts). Resulting gains should be treated as ST. Some short trades were handled the conventional way (borrowed shares from Schwab). Those gains should also be treated as ST. I hope this makes sense because I certainly have no idea what I'm talking about! AdvocateDevil