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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?


To: Ted Downs who wrote (39401)3/10/2002 9:51:58 AM
From: lh56  Respond to of 99280
 
hi ted, sorry about the late response here. trying to catch up...

re: options income on 1099. the irs doesn't require brokers to report options income on 1099 because that income is taxed at your regular earned income rates, not capital gains rates.

also, i expect the irs auditing attitude, going forward, to become even more cranky than usual. the current revenue stream is getting pretty seriously spent. jmho, of course.

larry