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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (499)1/23/1998 4:07:00 PM
From: VincentTH  Read Replies (1) of 5810
 
I read Tesser again, but can only find a reference to option in the Appendix (pp 280-).
Tesser said that equity options are not marked to market, and therefore not required to report until the transaction is closed (i.e. at expiration or assignment). (That's how I remember it as "vague").
McMillan goes into details as to how one should report income from option tradings, similar to what you have stated (deep ITM calls, etc...). I don't know how to judge McMillan's credentials as far as tax is concerned, however, but since he is the option guru, I would tend to believe him. I will read McMillan again, especially the LEAPS section.
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