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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: hobo who wrote (9292)	1/25/2001 1:03:27 AM
From: bigja	Read Replies (1) \| Respond to of 10876

Toscano, Thanks for your information. My brokers statement lumps open and closed option proceeds together with Muni-Bond income under "Transactions we do not report to the IRS". Fortunately I have always reported the options portion of this as ordinary income, so I am clean..BUT...maybe I am being too conservative. For example, I just had 30 contracts of NT-MF(Nortel Jan 30 puts) that I sold in December expire worthless last week. Are 100% of the proceeds of this sale considered ordinary income? Or since I never closed are you saying they may not be fully taxable? Thanks for all you assistance. Big JA