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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Colin Cody who wrote (606)12/8/1998 9:17:00 AM
From: getgo234   of 1383
 
I have written covered calls on Ascend Communications that expire in December of 1998. The stock price is now well above the strike price on the calls. Can I roll the
covered calls out to January whereby I would be reporting a loss in 1998 on the purchase of the December calls ? Will the IRS conclude that I am talking a tax loss for 98 and deferring the gains to 1999 and therefore this is not allowed ? Does
this transaction fall under the 31 day wash rule ? Thank you to everyone for your comments.
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