The New QUALCOMM - Coming Into Buy Range Message Board

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Technology Stocks : The New QUALCOMM - Coming Into Buy Range

QCOM 174.60

0.0%

2:09 PM EST

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To: thinkclear who wrote (1024)	8/21/2007 8:33:16 AM
From: manalagi	Read Replies (1) of 9129

Hope the IRS isn't waching. I have been paying taxes on those QCOM options since they were either expired OTM or I covered before expiration. (I sleep well at night). Here are the ways to deal with IRS: - If the stock on which you write a call is not sold (the call buyer does not exercise the call), then the option is considered a separate transaction, to be reported as a gain. - If the stock is called away, i.e. the option is exercised, then the option proceeds must be added to the sale price of the stock. Therefore, under IRS rule, my cost basis is still $ 8/share, but some times I like to think that the option proceed reduces the cost basis to make it negative. No wonder Steve Forbes keeps promoting flat tax!

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