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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Box-By-The-Riviera™ who wrote (22)10/2/1997 11:36:00 PM
From: Nasty P   of 5810
 
Joel,

Rules do apply to index options just like any other security but every option is considered a different security for "wash sale" purposes. Example: you sold OEX OCT 900 at a loss, and then bought OEX OCT 905 --> no wash sale, two options are not the same.

Also, even if you do truely have a wash sale, figure out if you qualify for a trader status which would allow you to deduct the expenses on Sch. C. Wash sale doesn't apply to dealers and traders.
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