Short Sale




Report short sales and income from short sales in Part 6.

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Description

EIF

Value

Income Type

Income Amount

1

Widgets Unlimited (WIG), open short position: 1,000 shares at $25

N/A

 

 

None (or less than $201)

2

Xylophone Technologies Corporation (XYZ), closed short position

N/A

None (or less than $1,001)

capital gains

$5,001 - $15,000

For You, Your Spouse, and Your Dependent Children

Part 6

Open Position

Report a short sale in an open position if the value of the shorted security was more than $1,000 at the time the position was opened. 

DescriptionProvide the name of the security you shorted (e.g., “Widgets Unlimited”) and indicate that the short position is open.  In addition, in lieu of selecting a category of value, provide the following information: (1) the number of shares shorted and (2) the price at which you shorted the shares.

EIFSelect “N/A.”

ValueLeave this field blank.

Income Type and Income Amount:  You should not have any income to report, so select “None (or less than $201).”

Closed Position

Report a short sale in a closed position if more than $200 in income was received during the reporting period.

DescriptionProvide the name of the security you shorted (e.g., “Xylophone Technologies Corporation”) and indicate that the short position is closed.

EIFSelect “N/A.”

ValueSelect the category for “None (or less than $1,001).”

Income Type:  Specify the type of income.

Income Amount:  Select the category that corresponds to the total amount of income received during the reporting period.

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