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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: George Sepetjian who wrote (783)	3/19/1998 1:22:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

George, If the stock gets called (after you write a call) you may show the sale EITHER way as you described, IMO. . Do which ever way is clearer for you. . 1099-B forms do no show proceeds from CBOE options. . I am happy to discuss some areas of tax law that I am familiar with, but I don't wish to discuss tax evasion techniques here. Suffice it to say, the call-writing option proceeds as described here by you are taxable. I believe they are classified as long-term/short-term based on the acquisition date of the stock called, if called; and on the cover date, if covered. . Colin

To: George Sepetjian who wrote (783)	3/27/1998 12:08:00 PM
From: david siple	Read Replies (5) \| Respond to of 5810

To anyone, I am curious about the Options part, too. I have a big capital gains proceeds reported as 1099B. However, I have many OPTIONS (not reported by brokerage firms) which are LOSSES. Does anyone know: can I put some of these LOSSES towards the GAIN PROCEEDS? I would think "yes," but then MY reported "proceeds" to the IRS will be different (less) than that proceed number reported to the IRS by brokerage firm... Anyone know what I'm tallking about? Thanks in advance, --DS