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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (1576)12/10/1998 8:36:00 AM
From: Shawn M. Downey  Read Replies (1) of 5810
 
I have a simple tax question. I sold covered calls on several of my stocks this year and
probably will not close all of the positions before year end.

On any closed positions, I would be responsible for short term gains on the difference
between the open and close premiums. But am I responsible for short term capital gains
on the whole open premium at the end of the year assuming I do not close the position?

Thanks in advance, Shawn.
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