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

Hi Julie, ... Regarding next year, I would say Mandy (Smitson CPA) is my CPA for life, as long as I need one. Thanks,

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