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Financial Planning / Tax Strategies
|Subject: Question on Reporting Short Options Positions||Date: 3/1/2013 10:16 PM|
|Author: TMFBigFrog||Number: 117935 of 121100|
In 2012, I wrote some options in a taxable account. Several of those written options expired, and others, I bought to close later in the year.
When my broker reported the transactions on form 8949, the options that expired appear to have been treated correctly, but I'm not sure of the ones that I bought to close. It appears as though the dates the brokerage reported on those bought-back short positions may have been reversed. Either that, or I'm misunderstanding Publication 550 and would appreciate the correction.
For instance: I wrote a put option on June 11, 2012 and bought it back on July 10, 2012. The report from my broker (as imported directly into Turbo Tax) lists June 11, 2012 as my "Date Acquired" and July 10, 2012 as my "Date Disposed".
Is that correct treatment, or is June 11 my "Date disposed" and July 11 my "Date acquired" because it was a written (short) position? And if the brokerage messed up the dates, will I need to correct them, or will the IRS not care because it's short term anyway?
Similarly, I had some written call options (covered with longer term bought call options) where the 8949 form lists the acquisition date before the disposal date, even though the opening position put me short the calls.
In all cases, the profit/loss numbers appear correct.
Thanks very much in advance.
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