"alex-g" <AlexGowes[at]yahoo.com> wrote:

- quote -

you do need to reconcile your tax return to the 1099B

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

There are a few discrepancies between data on the 1099 B I
received from my broker and data downloaded from the broker
site into TurboTax. I wonder if anyone can help me with this
question:

I sold short 10,000 shares of a stock on 5/31/06. The trade
went against me, so I covered on 6/5/06 for a loss.

My 1099-B reports the transactions as follows:

9,800 shares sold 5/31/06 for proceeds of $129,355.97
200 shares sold 5/31/06 for proceeds of $2,627.91

The proceeds listed are net of commissions and fees. The
short sale and purchase were actually single orders, but
executed at different times or prices.

My TurboTax import from the broker (Fidelity) shows the
following:

200 shares sold for proceeds of $ 2,513. Cost $ 2,758 G/L ($ 245)
3,800 shares sold for proceeds of $50,158. Cost $52,334. G/L ($2176)
5,800 shares sold for proceeds of $76,558. Cost $79,982. G/L ($3424)
200 shares sold for proceeds of $ 2,628. Cost $ 2,754. G/L ($ 126)
wash sale +$126

(Purchase and sale dates are as above)

Now, here's my question: the 1099-B shows sales of
$131,983.88. The sum of the sales in TurboTax is $131,857.
The difference appears to be the $126 wash sale. Do I need
to make a change to what I report in TurboTax so that the
sales number agrees with the 1099-B the IRS gets? Does this
discrepancy matter?

Thanks for any advice!

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >