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Question

If I have a short sale still open at the end of the year, how should that sale be reported on my tax return in the year that the short sale was opened?

Forum|Forum|2 years ago
December 8, 2023
1 reply
0 views

Basically, I was audited by the IRS many years ago for not reporting the sale (even though I had not closed out the trade). So I'm not sure how to handle.

TurboTax Online

Short-sale of what? are you a trader that has made the 475(f) mark-to-market election?

Why not ask your broker if it will reported to the IRS for 2023 if it is not closed out by year-end.

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Sorry for not being more specific...I am referring to a stock short-sale; I am not a trader, just an investor who sometimes holds short positions for short periods of time.

Employee

For stocks and options on stocks, only cloaed positions are reported on Form 8949.