Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Ramin Motakef who wrote (782)	3/19/1998 12:08:00 PM
From: George Sepetjian	Read Replies (2) of 5810

Call Option Premiums-Anyone? 1. Are the premiums I receive selling covered calls simply recorded on Sch D Part 1 as S-T cap gains? 2. If the stock gets called do I make separate entries for the stock sale & the other for the option premium on Sch-D or add the premium to the sale price of the stock? 3. Since these premiums are not reported to the IRS (according to the statement I received from my broker) how would the IRS know about this income I received if I don't report it?

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