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Re: hweb2 post# 76411

Thursday, 08/27/2020 9:49:24 AM

Thursday, August 27, 2020 9:49:24 AM

Post# of 113859
BGFV I wonder how many of those short sales are from people who have multiple brokerage accounts with different firms. Many BGFV investors are generally sitting on huge gains and may want to lock them in, but not take all that gain now. Short it in another account at another brokerage and they lock in their gains while they wait for their long position to get to long term with a lower tax rate.

I know it's illegal to do this (wash sale) but I don't know that tax software would catch it nor would the IRS 99% of the time. No, I would not recommend trying this tax evasion strategy either.

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