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

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To: GT who wrote (1549)12/5/1998 1:14:00 PM
From: QuietWon  Read Replies (1) of 5810
 
Options: correct me if I'm wrong ...

Principle is individuals don't report unrealized gains/losses ie. individuals don't mark to market.

Assuming no mark to market, only realized gains/losses reported.

So, if you open a position of: selling an option (call or put doesn't matter) with a expiry date in 1999 and don't cover until 1999, there is no realization in 1998. Correct? ie. no income recorded until position closed even though you got income from selling the option

Thks.
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