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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121599  
Subject: Re: Wash Sales? Date: 4/10/1999 12:55 AM
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[[ For scenario #1, I sold all 62 shares in the same transaction
on 10/2/98. These 62 shares were all the SBUX stock I owned
during 1998. Given the purchase dates for the 30 sh and the
20 sh were within 30 days of the sale of all shares, are the
12 sh and 20 sh transactions considered wash sales? If not,
should I simply record the entire scenario on one line in Sch. D
as follows?]]

If you stayed out of the stock completely until at least 11/3/98, you have no wash sale and all of your losses would be allowed. I would report it on three lines, just have you have done here.

[[ The second scenario is a long position followed by a short
position. Can reversing your position in a stock--and then
buying shares to cover your short within 30 days of a loss from
the sale of a long position--create a wash sale scenario?

SCENARIO #2
Date Date Sales Cost/ Gain/
Description Acq'd Sold Price Basis Loss
Long 10 sh CSCO stock 7/15/98 10/2/98 568.10 668.50 (100.40)
Long 7 sh CSCO stock 9/17/98 10/2/98 397.67 436.19 (38.52)
Short 10 sh CSCO stock 10/15/98 10/8/98 439.99 528.13 (88.14)

Can anyone help me out with these questions? I'd really
appreciate it.]]

Again, if you stayed out of the stock until at least 11/16/98, you have no was sale.

TMF Taxes
Roy
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