Expert Alumni

Mar 7, 2023 12:48:39 PM

Instead of thinking of your short sale transaction in terms of date acquired and date sold.

Think in terms of the Date Opened - this is the date you "started" the short position even though you received money in the transaction, and
Date Closed - this is the date you "ended" your short position. This is when you covered it.

If this does not completely answer your question, please contact us again and provide some additional details.
We are having an Ask the Experts event specifically about Crypto transactions on 03/15/23. Please register for it here.

Level 15

Mar 7, 2023 1:04:19 PM

This is contrary to the IRS instructions for how to report Short Sales.

It also doesn't help the situation since every date still has to be modified.

@JohnB5677

Level 15

Mar 7, 2023 1:30:17 PM

"Any shortcuts?"

@farrellbloch

Regarding stock and options, for Box A and Box D, only wash sales have to be itemized on Form 8949.

The other transactions without adjustments can be aggregated. Report the sub-totals of cost and proceeds for those transactions on Schedule D Line 1a or Line 8a respectively.

If you have no wash sales, there will be no form 8949, No attachment is necessary. No mailing is necessary

Why sign in to the Community?

With short puts and calls that expired worthless the "date acquired" is after the date sold. Turbo Tax assigned a "needs work" to every one! Tedious! Any shortcuts?

"Any shortcuts?"