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To: Mama Bear who wrote (17692)1/28/1999 11:47:00 PM
From: Dave Mansfield  Respond to of 18263
 
Barb, you got it right. No tax consequences until you close out your position by covering the short.



To: Mama Bear who wrote (17692)1/29/1999 9:23:00 AM
From: Bob Trocchi  Read Replies (1) | Respond to of 18263
 
Barb...

>>If you had an open short sale you will need to attach a note to your schedule D saying that your total doesn't match the 1099 because of open short position. <<

Exactly the way I did it and did not have an problems.

Bob T.



To: Mama Bear who wrote (17692)1/29/1999 12:20:00 PM
From: NYBellBoy  Respond to of 18263
 
Mama's right - You must include the proceeds on schedule D, but you mark it as a Short Sale and put down the same amount for the cost; so no gain or loss.

Always listen to your Mama!

:)

BellBoy