Check-Up: Matching Unrealized Long & Short Lot

Considerations

Some brokerages mistakenly send a closing short trade ('Cover Short' or 'Buy to Close') as a long trade ('Buy' or 'Buy to Open'). Your portfolio shows matching long and short lots in your unrealized views. This could indicate that either the short or long trade needs to be corrected. GainsKeeper must distinguish between long and short trades to close a lot for proper gain/loss calculations. For example, a 'Buy to Open' trade may need to be deleted and recorded as 'Buy to Close' so that it closes the short lot and books the appropriate capital gain/loss on your Schedule D.

 

Procedure

To view incorrect trade types from the Check-Up page:

  1. Click the Show button next to the Matching Unrealized Long & Short Lot alert. The Check-Up: Matching Unrealized Long & Short Lot page displays.

  2. The table on this page lists any trades that potentially have been recorded with an incorrect trade type.

  3. To correct these transactions, go to the Trade Log and click the trade type link in the appropriate record.

  4. Update the trade type with the appropriate type.

  5. To return to the Check-Up page, click the yellow arrow at the top of the page.

 

Example

Click here to view an example of the Check-Up: Matching Unrealized Long & Short page.

 

 

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