How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28396
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

Income on short sales is ordinary income. If the taxpayer

Resolved Question:

Income on short sales is ordinary income. If the taxpayer buys and holds a bear fund, short ETF for a year can that be
Submitted: 7 years ago.
Category: Tax
Expert:  Lev replied 7 years ago.

 

If you open short possitions on ETFs and cover them within a year - that should be short term capital gain/loss.

If possitions are held more than a year - the gain/loss would be long term.

 

Let me know if you need help with reporting.

 

Customer: replied 7 years ago.

Some ETF's are short ETF's. Can I be long these ETF's for a year and pay capital

gains upon sale

Expert:  Lev replied 7 years ago.

If you purchase ETF shares as long positions - that is not your concern how that ETF is created - these are long possitions in your account.

 

 

Lev and 3 other Tax Specialists are ready to help you