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

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To: Colin Cody who wrote (1667)12/29/1998 3:19:00 PM
From: Sonny  Read Replies (2) of 5810
 
Worthless Jan'99 expirer option - tax writeoff question:

If there is no volume (no bid ==> price zero, zilt ==> no buy-matching possible for a call or put sell, by a MM, before 1998 ends) for an option-contract expiring in January 1999, is it true that one is then caught in the trap, and can't close it out, to at least take the tax-write-off for 1998 year, OR- is the brokerage house just saying that and hesitating to do the hard work for a customer? Any experience appreciated.
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