Short Sellers Should Not Rely On Brokers For IRS Reporting (Recording)

28 Sep

Sep 28, 2016 at 4:15 pm EST

Traders are on their own when it comes to tax compliance for short sales. Brokers don’t report constructive sales on appreciated financial positions on 1099-Bs, and many miscategorize stock borrowing fees as interest expenses.

Join trader tax expert Robert A. Green, CPA as he explains complicated tax rules for short sale transactions and expenses:

– Short sales against the box.
– Constructive sales on appreciated positions.
– Special rules for short-term vs. long-term capital gains and losses.
– Using tax compliant software.
– Dividends and “payments in lieu” of dividends.
– Stock borrow fees vs. interest expenses.
– Investors face limitations on deductions.
– Traders with trader tax status & Section 475 bypass short sale problems.
– Tax compliance tips and examples.

Testimonials

(Rachel Ellis CPA) Everything on the federal returns ticks-and-ties and perfectly, at least as far as I can tell. You have excellent attention to detail and caught a few things that I missed in the input material I sent, so I am very comfortable that everything is done correctly. Appreciate the excellent work!

MJ