1040-US: Entering short sale transactions

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How do I enter a short sale transaction?


Enter the sale in the Schedule for detail statement dialog in Screen B&D in the Income folder. Use the F (force) column to properly report the sale as either short-term or long-term. Refer to the short sale reporting rules in the Form 8949 instructions. For example, enter code 1, (Short-term) if there was substantially identical property held for one year or less on the date of the short sale. If substantially identical property was held for more than one year on the date of a short sale, and a loss is realized, enter code 2 (Long-term) to report as a long-term capital loss, even if the property used to close the sale was held 1 year or less.

Related topic: Business and capital asset sale information FAQs (1040)

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