Stocks

[DTS]

A client emailed some stock trade info today.

Can anyone tell me what the difference is between "realized BOOK capital gains and losses" and "realized capital gains and losses"?

To clarify a bit, I believe the S/T BOOK losses were a smaller dollar amount than the others. This is why I thought wash sales might be the reason for the difference.

There are several wash sales in this group and I'm wondering if this is what this refers to???

Thanks, Dennis

[Bees Knees]

I don't know for sure, but my guess is the wash sale rules are the reason you have the two different amounts for gain or loss. The example on page 6-8 in TTB under Wash Sales talks about increasing basis in the stock for the loss not allowed. This would be book basis, whereas the realized gain or loss is the actual loss before considering the deductible tax ramifications to the transaction.

[DTS]

Bees Knees

Thank you. I feel like that explains the difference ($7,700). I plan to add up the losses on the wash sales and see if this totals the difference.

I appreciate your help.
Dennis