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: Mike who wrote (2128)	4/8/1999 9:40:00 PM
From: Spots	Read Replies (1) of 5810

If you closed both the option transaction and the stock sale in the same year, don't worry about it; report the two sales separately. No wash for closed out positions (well technically there is, but no tax consequences). If you did them in different years, then still do it separately unless the covered call was way deep in the money, in which case it may be a constructive sale. I make it a point not to know these rules. But if memory serves me, unless it was at least two strikes deep in the money at the time of the sale, don't worry about it. Also don't quote me <gg>. Spots

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