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To: fut_trade who wrote (5219)	12/29/1997 10:05:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 27307

>>>do you know how options fit in with the wash sale rule<<< I'm no IRS groupy, I just hate the idea of having the man look at my return twice. Perhaps when I have enough money to have a fleet of accountants, I won't worry about it, I'll just send them. Until then, with the new rules I'll err on the side of caution. There are instructions available at your local IRS office that explain all about the tax treatment of options. I recall that you mark them to market at the end of the tax year and tax the corresponding loss or gain. Then the market price becomes your basis. I also recall that there was specific treatment, and a specific definition of deep in the money options. I traded a lot of deep in the money IOM(G) options in 1996, but I closed all my positions that year, so it didn't really apply to me. Basically I think the IRS wants the money you owe, and they want it now. Barb!