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Good day,

Perhaps someone could help me. I've been stuck with this for such a long time and I'm not sure how to handle this. Here's the situation,


On 2/28/2012, I sold "1 x ABCDF Corp, Apr 2012, $235.00 Call" at $1,321.01
On 4/1/2012, I bought back to close position "1 x ABCDF Corp, Apr 2012, $235.00 Call" at $569.97, resulting in a loss of $751.04

On 4/1/2012, I bought "1 x ABCDF Corp $235.00 exp Apr 2012 Call" at $1,333.01
On 4/11/2012, I sold to close position "1 x ABCDF Corp Apr 2012, $235.00 Call" at $194.98, resulting in a loss of $1,138.03

Also,

On 4/1/2012, I sold "1 x ABCDF Corp $250.00 exp Apr 8 2012 250.00 Call" for $302.98 and it expired worthless on 4/10/2012
On 4/1/2012, I sold "1 x ABCDF Corp $250.00 exp Apr 8 2012 250.00 Call" for $294.98 and it expired worthless on 4/10/2012

Also, not sure if it's relevant or not,
On 2/26/2012, I bought 100 shares of ABCDF Corp, for $22,730.02
On 4/17/2012, I sold these 100 shares of ABCDF Corp, for $23,685.51, resulting in short capital gain of $955.49

I figured that the very first two pairs are wash sales, but I'm not entirely sure how to record these. Which transactions would offset which. Any thoughts or ideas?

Thanks!
BK
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Which transactions would offset which. Any thoughts or ideas?

At the end of the year did you have any position in ACorp?

If at the end of the year you had no open positions(*), I don't think you have to worry much about the wash sales - they won't have any impact on how much taxes you owe. Because any wash sale loss that gets applied to one of the other purchases is still going to end up flowing down to the same total of a $336 short term loss.

* no open positions, and that you don't have a potential wash sale situation spanning the end of year - ex. didn't sell for a loss on Dec. 20th, and buy back in on Jan 5th
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No, none. I understand that essentially wash sales within a calendar year are the same as "7+2=9" or "2+7=9" i.e., it doesn't matter how they're being recorded, as long as they are being recorded.

I'm just not sure how IRS is going to look at it...
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I'm just not sure how IRS is going to look at it...

If all your transactions are reported and the wash sale doesn't move your loss to a future next year, then I don't think it matters how they look at it.
In the (IMO very unlikely) event that the IRS came back and said you did it wrong, your tax liability wouldn't change.

With 6 days left to file, I'd say just get it done.

But if one of the experts has an opinion on which (if any) of those are "substantially identical", and therefore subject to the wash sale rule, I'd listen to their opinion.
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