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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (477)	1/19/1998 12:02:00 PM
From: Pete	Read Replies (1) \| Respond to of 5810

Wash Sales & TurboTax? How is TurboTax at computing the correct amount of allowable losses in the case of multiple lots of a security bought/sold on diffent dates, some of which wash sale rules apply? Does it work, or is this exercise left for the user to figure out? Pete

To: Colin Cody who wrote (477)	1/19/1998 7:26:00 PM
From: pz	Read Replies (1) \| Respond to of 5810

Colin, I was doing my taxes last night and discovered that I have a wash sale situation (unfortunately). 6/30/97 I sold 4 lots of WHC at 28 that I had purchased in late 1996 and early 1997. 2 lots had a profit and 2 had a loss. 07/16/97 I bought WHC again at 26 and sold on 8/11/97 at 29 3/4. Since I bought the stock on 7/16/97 within 30 days of the stock that I sold on 6/30/97 that had a loss in the lots, how do I handle this? Thank you for any help that you can supply. Regards, Paul