PDA

View Full Version : Reporting Short Covers

CWS
09-02-2005, 07:07 AM
When I short a stock and then cover with a short-term transaction, the
Capital Gains report shows a long-term gain/loss. It seems to get
confused because the sell date is prior to the buy date. I use the
Short Sale and Cover Short Sale transaction categories. This has been
the case as long as I can remember. I am currently using Q06 Prem.

I am I doing something wrong? If not, is there a workaround?
A Count
09-02-2005, 01:29 PM
> When I short a stock and then cover with a short-term transaction, the Capital Gains report shows a long-term gain/loss. It seems to get confused because the sell date is prior to the buy date. I use the Short Sale and Cover Short Sale transaction categories. This has been the case as long as I can remember. I am currently using Q06 Prem. I am I doing something wrong? If not, is there a workaround?

The capital gains report is wrong ?

Well how about this, does Q track the intermediate value of a short position
within the portfolio value ?
CWS
09-02-2005, 05:14 PM
On Fri, 2 Sep 2005 17:29:45 -0400, "A Count" <acount@notmail.com>
wrote:
When I short a stock and then cover with a short-term transaction, the Capital Gains report shows a long-term gain/loss. It seems to get confused because the sell date is prior to the buy date. I use the Short Sale and Cover Short Sale transaction categories. This has been the case as long as I can remember. I am currently using Q06 Prem. I am I doing something wrong? If not, is there a workaround?The capital gains report is wrong ?
Yes, the Capital Gains report is wrong with regard to the Short-term
vs. Long-term classification. However, the maginitude of the
gain/loss is correct.
Well how about this, does Q track the intermediate value of a short positionwithin the portfolio value ?

Yes, Q tracks the intermediate value correctly.

MyLounge.com Site Map
Forum: Cars, Cell Phone, Database, Games, Home Improvement, IT, Music, School, Sports, Web Design, Web Server, Weight Loss

The MyLounge.com forum is intended for informational use only and should not be relied upon and is not a substitute for any advice. The information contained on MyLounge.com are opinions and suggestions of members and is not a representation of the opinions of MyLounge.com. MyLounge.com does not warrant or vouch for the accuracy, completeness or usefulness of any postings or the qualifications of any person responding. Please consult a expert or seek the services of an attorney in your area for more accuracy on your specific situation. Please note that our forums also serve as mirrors to Usenet newsgroups. Many posts you see on our forums are made by newsgroup users who may not be members of MyLounge.com Term of Service