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Politics : Formerly About Applied Materials
AMAT 322.51+6.1%Feb 6 9:30 AM EST
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To: Jacob Snyder who wrote (61573)3/6/2002 3:26:23 PM
From: Jan Crawley   of 70976
 
Does this count as "effectively closing my position", for tax purposes?

Jacob, it's not.

If your shares are called in July then it is a taxable event for both(shares gain$ and premium$). But if the option expires(or you close the option before the expiry); then only the net premium$ is a St-gain.
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