Track Wash Sale Disallowances
- Tom Fahey (Unlicensed)
- Former user (Deleted)
Identified lot (IDLOT) trade processing sends a set of IDLOT trades from the trade panel as a bulked set. This ensures that the trades are submitted to the same engine and in order. The STAR engine takes these IDLOT trades and processes them individually. However, they continue to have separate commit scopes. Wash sale processing is not invoked until the last IDLOT close is processed. When the last IDLOT close is processed, all closes that share the same link event ID (tag 28) are taken into consideration for wash sales.
View Wash Sale Information in Position Viewer
You can view wash sales information using the Position Viewer tool under the Wash Sale Adjustments tab if you convert wash sale adjustment records to the ESTAR database, as shown in the following figure. The Wash Sale Adjustment tab allows you to view open and close lot adjustments, as well as cancelled open and close lot adjustments. Otherwise, if you store wash sales trade information in the Cost object, you can view wash sales information under the Cost tab for open and close adjustments.
Wash Sales Disallowance Tracking Fields
The following table lists fields used to track the disallowance on the initial open and close lots and to describe the origin of the disallowance for the lot that receives the disallowance.
Tag | Field | Description |
|---|---|---|
Wash Sales Object |
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3995 | Washsales Converted indicator | Indicates at the position level whether wash sale adjustments have been converted from the Cost object to the ESTAR database for processing. Converted positions receive a value of Y. |
Order Number |
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1092 | Order Number | Specifies the order number of the transaction, including the same number for multiple lots. |
4529 | Cls Open Order Number | Specifies the open order number used to determine the lot eligibility for loss disallowance. |
Open Level Disallowance Tracking |
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3847 | Orig Washsale Disallowance L | Specifies the original disallowed loss of a wash sale transaction, local currency. |
3848 | Orig Washsale Disallowance B | Specifies the original disallowed loss of a wash sale transaction, base currency. |
3849 | Current Washsale Disallowance L | Specifies the current disallowed loss of a wash sale transaction, local currency. |
3850 | Current Washsale Disallowance B | Specifies the current disallowed loss of a wash sale transaction, base currency. |
3851 | Washsale Disallowance Term | Indicates whether a short term (ST) or long term (LT) close is washed. |
Close Level Disallowed Loss Reversal Tracking |
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3882 | Wash Sale Disallowance Reversal L | Specifies the wash sale disallowance for the reversal, local currency. |
3883 | Wash Sale Disallowance Reversal B | Specifies the wash sale disallowance for the reversal, base currency. |
Additional Details |
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3861 | Washsale Cls Trd Ticket Number | Specifies the trade ticket ID of the sell generating the disallowed loss. |
3862 | Washsale Orig Open Evt Id | Specifies the event ID of the lot sold prior to a wash sale. |
3863 | Washsale Cls Trade Dt | Specifies the trade date of the sell generating the disallowed loss. |
3864 | Washsale Orig Acq Date | Specifies the acquisition date of the sold lot creating the loss prior to a wash sale. |
3865 | Washsale Close Quantity | Specifies the total units of the original close lot for the wash sale. |
3866 | Washsale Disallowance Type | Specifies the transaction type triggering the wash sale. |
3867 | Washsale Reversal Type | Specifies the transaction type reversing the disallowance for the wash sale. |
3988 | Washsale Open Hldg Per Dt | Specifies the adjusted holding period of the sold lot creating the original disallowance. |
4911 | Washsale Cls Security Alias | Specifies the security alias of the close security in a wash sale transaction. |
4912 | Washsale Open Security Alias | Specifies the security alias of the open security in a wash sale transaction. |
4916 | Washsale Open Lot Flag | Indicates whether the target open lot is identified on the transaction or if the system should generate it. |
4917 | Washsale Cls Event Id | Specifies the Event ID of the close that generated the loss prior to a disallowance. |
4919 | Washsale Cls Event Type | Specifies the event type of the close event creating the loss being disallowed. |
4920 | Washsale Cls Post Dt | Specifies the post date of the close event creating the loss being disallowed. |
4921 | Washsale Cls Acct Dt | Specifies the accounting date of the close event creating the loss being disallowed. |
4922 | Washsale Cls Monthly Acct Dt | Specifies the monthly accounting date of the close event creating the loss being disallowed. |
4923 | Total Open Quantity | Specifies the total trade quantity of the open event that inherits disallowance (prior to any fracture). |
4924 | Total Close Quantity | Specifies the total trade quantity of a close trade (sum of all disposal lots created by a close). |
4925 | Washsale Orig Open Trd Ticket Num | Specifies the trade ticket number of the lot sold prior to a wash sale transaction. |
4946 | Washsale Manual Evt Type | Specifies the event type of a manual wash sale adjustment. |
4998 | Washsale Total Cls Loss B | Specifies the value stored on the open lot to represent the total lot level base loss of the close being relieved. |
4999 | Washsale Total Cls Loss L | Specifies the value stored on the open lot to represent the total lot level local loss of the close being relieved. |
5000 | Washsale Open Quantity | Represents the total wash eligible quantity on the open lot at the time of a wash sale. |
5018 | Washsale Trade Ticket Number | Specifies the trade ticket number of the transaction that caused the wash sale. |
Update Disallowance Values for an Open Lot
You can use the Non Financial Trade Data Modification panel in the Book Trade tool to manually update existing open lots with disallowance values for wash sales. You can update disallowance values for tax/audit reporting purposes when you have open lots that received cost adjustments but do not properly reflect the disallowance. You may need to update the disallowance for an open lot manually as part of an Eagle conversion or upgrade. Disallowance fields for wash sales are also available in the Conversion and the Receive trade panels.
To update an open lot with a disallowance value:
- From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
- Enter Book Trade in the Start Search text box.
- Click the Book Trade (Accounting Center) link to access the Book Trade tool.
You see the Query window as the default. - Complete the options in the Query window to find an entity and security and click Start Search.
- Select the row with the security you want to update.
- Click Other, and click Non Financial Trade Data Modification.
You see the Non Financial Trade Data Modification panel. - In the Select Lot to be Modified field, select the open lot you want to modify.
The lot you select must contain wash sale eligible open quantity and no disallowance. Lots that are closed or already contain disallowances are ineligible for this type of manual update. After you select an open lot, you can modify two fields In the Update Wash Sale Disallowance Fields section of the panel. - Click the Current Washsale Disallowance Local field, and update the current disallowed loss of a wash sale transaction, local currency.
- Click the Current Washsale Disallowance Base field, and update the current disallowed loss of a wash sale transaction, base currency.
- Click Submit.