Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.23

-0.6%

3:59 PM EST

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To: Jean M. Gauthier who wrote (55406)	12/21/1999 11:22:00 AM
From: Kayaker	Read Replies (1) of 152472

Jean, your LEAP strategies sound OK to me. As I understand it, if you exercise calls, you don't pay any taxes until you sell the shares. As noted below, the cost of the calls is added to the cost of the shares. I would confirm with a good accountant though. Recommend that you print off the RevCan bulletin at the link below. It covers stock and option transactions and capital gains vs income, and is the only RevCan publication I can find that has detailed information about tax treatment of puts and calls. (This quote is from page 8, section 28 from the bulletin at the link below.) Where the holder of a call option treats gains and losses as being on capital account, the rules in section 49 of the Act are applicable. The cost of acquiring the option is added to the cost of the shares if the option is exercised. ccra-adrc.gc.ca

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