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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: RookieTrader who wrote (471)8/27/1998 8:53:00 AM
From: Colin Cody  Read Replies (1) | Respond to of 1383
 
"1,000 shares Coca Cola (short sale)"

Since the Dec 31st sale will show up on your broker 1099 the IRS will expect to see it on Schedule D. Therefore I show it as a sale (see above) and for the COST I would show the same amount and same date.

Then NEXT YEAR, I'll show it again, only with the actual covering transaction cost and the resulting gain or loss.

Colin


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