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: QuietWon who wrote (1550)	12/8/1998 11:39:00 PM
From: Kaye Thomas	Read Replies (3) of 5810

Generally speaking, you're correct: under U.S. income tax, you don't report income from selling an option until you close the transaction one way or another, even though you have cash in hand from sale of the option. Bear in mind that exercise and assignment can cause you to have a realization event earlier than you anticipate . . . Kaye Thomas, author Fairmark Press Tax Guide for Investors fairmark.com

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