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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Box-By-The-Riviera™ who wrote (364)12/31/1997 12:13:00 AM
From: Colin Cody  Read Replies (1) of 5810
 
Yes IMO, they most definitely are subject to the same rules as stock sold voluntarly. There MAY be a court case of someone who took a different view, but I have no cite.
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The Code says the 61 day window must not include a BUY. There are lots of exceptions, as we've discussed. None of the exceptions deal with THE REASON your stock was sold (at a loss).
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If they DID have an exemption, then the tax-scam would be simply to write a deep-in-the-money call for the current expiration month, rather than "voluntarly" sell the stock outright.
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Colin
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