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Old 02-27-2009, 12:15 AM
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Wash Sale questions.

A stock was bought and sold several times within a very short period of time. The number of shares were not always the same. Most of the sales were losses. the entire position was in and out in the same tax year and all within 60 days. the year end broker statement show many wash sale adjustments and the summary amounts for the basis, gain/loss and proceeds all reflect the wash sale adjustments. On my schedule D can I show "var-s" for various short term purchase dates and the last sale date as THE sale date and just use the "net" figures that reflect the wash sale adjustments or does each sale have to be listed individually.



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Old 02-27-2009, 12:37 PM
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Well, that is what most CPA's are doing these days, they are simply reporting Netting out both the Sales and Purchases for all the Short Term purchase and using the date as "Various" and doing the same for the Long term transactions as well.

This is clearly meant to avoid to individually stating each and every transaction, due to the fact that not only is this very tedious but it is costly for the client. As long as you clearly indicate the Wash Sale nature of the transaction and show that the losses are considered disallowed due to the Wash Sale Rules then I think you should be fine!

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