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

To: Nelson Chang who wrote (821)4/18/1999 1:38:00 AM
From: Sword  Respond to of 1383
 
Excellent response. You are right. If you hold the reestablished position into the new year, the wash sale applies and the cost basis of the 2nd purchase is raised. You would need to report the first sale as a wash.

All of this banter about wash sales has convinced me to add the capability of identifying and calling out these trades accurately on the Schedule D in my custom designed program (as an option).

-Sword


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