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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (2099)4/4/1999 9:38:00 AM
From: dr. z  Read Replies (1) of 5810
 
Colin, two questions that i have that i hope you can answer.

1. How does the IRS classify LEAPS that are held for more than a year which are then either sold (would this be considered a longterm position) or executed (when does the holding period begin for the stock for classification as a longterm position)?

2. How do you treat an option that is bought in October, 1998 and expires in January, 1999 - is the gain or loss deferred and reported during the 1999 tax year or does the option's value have to be listed as of December 31, 1998 on the schedule for gain/losses when doing your 1998 taxes. thanks
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