Active TopicsActive Topics  Display List of Forum MembersMemberlist  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin
Accounting. Audit and Tax
 CPAnet Forum : Accounting. Audit and Tax
Subject Topic: Tax help please! (Topic Closed Topic Closed) Post ReplyPost New Topic
  
Author
Message << Prev Topic | Next Topic >>
fairunfair
Newbie
Newbie


Joined: 28 Mar 2011
Online Status: Offline
Posts: 1
Posted: 28 Mar 2011 at 22:05 | IP Logged  

This is my first year to file tax myself, i was confused about the wash sale ..

1) Date 11/09/2010, I purchased 900 shares ABC for $ 4680, right after I got the shares, I sold 9 contracts of ABC option on Nov 20, 2010 for $271.
on date 11/20/2010, I see on the statement that it sold 900 share for $4,480.

How do I file this on tax form?

Second questions: date 11/25/10 I bought 600 shares HPQ at basic cost $3,114. I sold them on 12/15/10 for $2,210.
Is this considered a wash sale? or not? (later and ealier I didn't buy this stock)

Thank you for reading my questions

Back to Top View fairunfair's Profile Search for other posts by fairunfair
 
miyo
Newbie
Newbie


Joined: 11 Jan 2011
Online Status: Offline
Posts: 12
Posted: 29 Mar 2011 at 00:53 | IP Logged  

Not a wash sale. A wash sale is where you sell a stock at a loss then buy the same stock within 30 days. From your description, you donĄŻt repurchase the same stock within the 30-day wash sale period. You can just claim the short term loss on schedule D.


__________________
TradeMax - Help prepare tax and figure out wash sale..
Back to Top View miyo's Profile Search for other posts by miyo
 



Sorry, you can NOT post a reply.
This topic is closed.


  Post ReplyPost New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum

Powered by Web Wiz Forums version 7.9
Copyright ©2001-2010 Web Wiz Guide

This page was generated in 0.0938 seconds.

Copyright © 1996-2016 CPAnet/MizWeb Communities All Rights Reserved
Twitter
|Facebook |CPA Exam Club | About | Contact | Newsletter | Advertise & Promote