Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I have a friend who is trying to do his taxes - he sold some shares for a modest (less than $3K) loss, but then his employee stock participation plan (SPP) bought shares within 30 days of that sale.
He subsequently sold those SPP shares.
Now he's trying to figure out how to get this entered into his taxes correctly... The 1099 shows the wash-sale information.

He told me that it looked to him like the SPP shares went from being a short-term gain to being long-term. (which doesn't seem right to me - but what do I know)
I think he said that he tried doing it a different way and he thought it wound up reducing his W2 income (from the discount portion of the SPP shares)

Is there a good website which lays out how this should be handled?
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.