stock Open positions

[TAX]

Here is the situation

(1) Long trem sales 158,115.04 & Long term cost = 137,679.80

(2) SHORT TERM sales 1,154,555.90 & cost = 1,156,298.80

(3) Total Sales = 1,312,670.94 & Total cost = 1,293,977.78

(4) OPEN POSITIONS = 121,250.00

(5) TOTAL SALES 1,433,920.94 per 1099B (1+2+3+4)

What should I do with open position? I think I have to report it in order to tie to 1099-B proceeds. But what about cost?

[Koss]

Open Positions

An open position would never be reported on Schedule D.

You'll need to look at each transaction during 2007, and some of that data may not be on the Form 1099-B. There may be wash sales involved, or who knows what else.

If there are 199 transactions or something, you might not have to look at each one, but you need to determine whether the sales proceeds match up with the cost in a way that makes sense.

Do you have an hourly rate? LMAO