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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Herm who wrote (6248)	12/30/1997 10:52:00 AM
From: JoAnn McCracken	Read Replies (2) \| Respond to of 14162

Herm, I've got a question regarding taxes. When I sell a CC do I owe taxes on the premie now or do I just adjust my cost basis of the stock accordingly and owe when the stock is finally called from me? Also if I sell the CC's and them buy them back before for the end of the year do I treat it as a straight option play and owe the taxes now or adjust my cost basis. I hope this makes sense to you? Any help you could give would be appreciated. The 31st is sneaking up. JoAnn