Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: FruJu who wrote (9638)	2/15/1999 7:35:00 AM
From: Herm	Read Replies (1) \| Respond to of 14162

Wow! I can't imagine the work involved. I only keep my monthly statements and end of the year. Once, I view the mailed confirmation of each transaction, I destroy them in the shreader. Much too much paper to keep around. But, the end of the year summation from DLJ Direct is a detailed tally that is easy to follow! That is why I stop using an accountant to do my taxes. He would pull out the statement and fill in the blanks and then charged me a fortune for each form. So, he went the way of the stock broker! Obsolete, as far as I'm concerned. This year I even filed electronically!

To: FruJu who wrote (9638)	2/27/1999 3:49:00 PM
From: Georgeb	Respond to of 14162

"my broker's 1099B's don't even report any of my option transactions! I'm wondering since they don't report them to me, maybe I don't need to report them to the IRS" As you probably know, options trades are capital gains, even though your clearing house and brokerage firm don't report them. The IRS does not require them to report margin interest or options trades. I don't know the reason for this, since as far as I know, the IRS doesn't have any way of knowing this info unless they look at your personal statements during a live audit. Does anyone know why clearing houses/brokerage firms don't have to report options trades?