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Non-Tech : Invest / LTD

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To: Alski who wrote (9071)	6/19/1999 10:47:00 AM
From: Thean	Read Replies (2) of 14427

Alski, didn't realize you've got more tax info than I would normally asked for. I'm going to bookmark your IRS publication and use that as a reference. As for me, last year was the first year where my option transactions really became complicated. I had all sorts of scenarios and I decided to do it Steve's way - handling each round-trip trade individually and not add/subtract the cost basis/proceeds of the share transaction. I figured if I do it wrong, I should be able to defend myself in front of IRS tax auditor that 1) I'm new to this and still learning, 2) The bottom line matches so I'm not paying a penny less than I should according to the law. I filed my tax on April 15 and have yet to hear from them. Keeping my fingers crossed. As to subsequent year, I'm still not sure if I should use my existing approach or the correct approach (more complicated) as outline by Alski. On a different note - I had a June 22 1/2 call expired yesterday. The stock closed at 22 11/16. When I called Waterhouse 6 months ago asking about their policy in assignment, they said 1/4 pt is the cutoff. Therefore if this guideline of theirs still hold, I will not be called on Monday morning. But I'm not sure. Has anyone had cases this close before?

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