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Home > Money & Services > Taxes   »   Best wash sale SW available?

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Old Jan 8, 2006, 09:10 PM
rkim291968
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Best wash sale SW available?
Anyone used a wash sale SW? If so, please let me know what you think about it.

I need a wash sale SW that can caculate various scenarios. I bought and sold a same stock many times this year. One resulted in a loss which fell into a wash sale situation. I want to claim the full loss for 2005 and not carry the wash sale to 2006. I am hoping there is a SW that can automatically calculate various scenarios such that it can choose best possible option for my situation.

Thanks in advance.

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Old Jan 9, 2006, 02:58 AM   #2  
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What is a "wash sale SW"?
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Old Jan 9, 2006, 05:02 AM   #3  
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Rickj:

"Wash sale SW" is "wash sale software".

Rkim291968:

I believe that it is financial software that uses Monte Carlo modeling in order to best determine the proper procedure for tax reporting of multiple transactions on the same stock. I am sure such software exists, but is likely not readily available to the laymen. You may need to contact a financial professional, probably a Certified Financial Planner, to gain access to such software. Buying it yourself is not really an option due to the expense.

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RickJ agrees: Thanks. Great info for both of us!
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