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Financial Planning / Tax Strategies
|Subject: Re: Tax ?...rolling options||Date: 3/20/2012 2:37 PM|
|Author: ptheland||Number: 115580 of 124931|
just to clarify --they are not required, they ARE allowed, yes?
.. my 1099-Bs do have options activity
Well, I suppose they are allowed. But I really doubt they did.
Take a close - a very close - look at the options activity you're thinking is on a 1099-B. My guess is that it will say this information is for your reference and is not reported to the IRS.
It comes with the 1099-B, but it's supplemental information for your use and not actually a 1099-B.
I know I'm sounding a bit pedantic here, but sometimes those little details make a difference. And they're making more of a difference this year. Assuming my guess is correct and these options are not on a 1099-B, you'll need to initially enter the options activity on a separate Form 8949, marking box (C) at the top to show the activity is not on a 1099-B. In your tax software, there will be some kind of check box or option box for you to indicate this.
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