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

Amanda, Based on my rudimentary knowledge of  taxes my draft 2012 (amended) return looks good so let's file it. If you have any advice based on mistakes I made on how to better plan my taxes (besides the obvious ... pay them on time!!) let me know. Thank you for taking care of this so quickly and efficiently. This was a far better experience over my previous accountant!

KK

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