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

To: Gorak Shep who wrote (817)	4/17/1999 8:31:00 PM
From: Sword	Respond to of 1383

Gorak, I agree with your statements. Well put. I like the idea of attaching a note of explanation. Thanks. -Sword

To: Gorak Shep who wrote (817)	4/17/1999 10:07:00 PM
From: Spots	Read Replies (1) \| Respond to of 1383

True, Gorak, but would you really want to trigger that yourself? I don't report it that way; in fact, I view wash sales as an audit flag, possibly incorrectly, but there you are. I'm not a day trader, and I don't really suppose my lousy 40-50 transactions a year are going to excite a lot of auditors, but I've been audited before for less activity (and zero added taxes I might add). I don't like the idea of adding a note, either. What would be the real consequences of doing it the way Sword suggests? I must like it, since I do it. This isn't an entirely empty question. Is there a real reason for reporting these "no consequence" wash sales? Spots