Mr Cooper Group Inc fka COOP

[Rumble]

Yes, I am a tax accountant.

I have not done any real research on Short Sales. It certainly is clear from the portion of IRS Pub 550 posted that the IRS position is that it would be Short Term capital gain, period. IRS Publications are not tax laws, so I don't know if I could find other better authority to support a postition for long-term capital gains based on when the position was open, if it was longer than a year ago. If the shares were "borrowed" from the broker a year ago, that might be sufficient, I'm not sure.

Also listed on this page was a response to an earlier post last week regarding some hoping that they would become worthless, and not pay any taxes. This again is not the IRS position, and I would be more inclined to believe this one is supported by actual tax law.