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#2
02-18-2004, 06:27 PM
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 Re: 1099-B on sort sales question Bob B <bobabrown[at]comcast.net> wrote: - quote - > kamlet[at]panix.com (Arthur Kamlet) wrote:
Just report it. The date sold will be earlier than date> > Bob B <bobabrown[at]comcast.net> wrote: > > > If a 1009-B statement from a broker shows short sales that > > > were still open at year end, are those supposed to be on the > > > tax return in any manner? If not, it would seem to create a > > > mismatch. But clearly, there's no gain or loss to report. > > I report the short sale and zero cost and enter the gain. > > > Then on the next line I report > > > XYZ Corp - short sale open 12/31/03 and enter a negative > > amolunt equal to the gain just reported. The two lines > > cancel out, but the Sales Column allows you to show Sales > > which the IRS sees on your 1099-B. > Thanks, Art. How do you report the close-out the following > year? acquired, but that's correct. There will be a gain or loss when you close out the position. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-17-2004, 10:48 PM
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| Re: 1099-B on sort sales question kamlet[at]panix.com (Arthur Kamlet) wrote: - quote - > Bob B <bobabrown[at]comcast.net> wrote:
Thanks, Art. How do you report the close-out the following> > If a 1009-B statement from a broker shows short sales that > > were still open at year end, are those supposed to be on the > > tax return in any manner? If not, it would seem to create a > > mismatch. But clearly, there's no gain or loss to report. > I report the short sale and zero cost and enter the gain. > Then on the next line I report > XYZ Corp - short sale open 12/31/03 and enter a negative > amolunt equal to the gain just reported. The two lines > cancel out, but the Sales Column allows you to show Sales > which the IRS sees on your 1099-B. year? Bob B << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-17-2004, 12:37 AM
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| Re: 1099-B on sort sales question Bob B <bobabrown[at]comcast.net> wrote: - quote - > If a 1009-B statement from a broker shows short sales that
I report the short sale and zero cost and enter the gain.> were still open at year end, are those supposed to be on the > tax return in any manner? If not, it would seem to create a > mismatch. But clearly, there's no gain or loss to report. Then on the next line I report XYZ Corp - short sale open 12/31/03 and enter a negative amolunt equal to the gain just reported. The two lines cancel out, but the Sales Column allows you to show Sales which the IRS sees on your 1099-B. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-15-2004, 05:20 AM
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| 1099-B on sort sales question If a 1009-B statement from a broker shows short sales that were still open at year end, are those supposed to be on the tax return in any manner? If not, it would seem to create a mismatch. But clearly, there's no gain or loss to report. Thanks in advance for help on this. Bob Brown << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1099b, question, sales, sort |
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