IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Kaye Thomas who wrote (1231)	11/19/2000 10:27:59 PM
From: LV	Read Replies (1) of 1383

If I buy a stock and simultaneously sell covered call, when the call expires and I keep the stock can I reduce my stock basis by what I received for the call or do I have to declare the covered call proceeds as income? It appears equivalent to shorting a put and being assigned the stock where the put proceeds reduce the stock basis. Thanks, L.

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