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| *Loan,banking and credit>>>tax accounting |
How do I account for a short stock sale on my taxes? |
I shorted 100 shares of INTC on 4/13/06 ($1944) and covered 5/16/06 ($1913) (short-term) for a measley profit of $32. What is the date I acquired the stock? What is my sale price & cost basis? This seems simple, but the shorting part is getting me turned around a little... Thanks for the help. Log the sale date as 4/13 Sale price is $1944 Acquired date is 5/16 Cost basis is $1913 Short stock sales count as speculation income. purchase date and sale date are irrelevant and $ 32 will attract taxes at normal rates |
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