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I've been buying and selling commodity options (using a broker). I've always done my own taxes and am looking for a source for understanding how future (commodity) options are taxed. I read in Businessweek that 60% of the profits are considered long-term, and 40% short term regardless of how long you hold them. Does anyone know of a good book on the subject or an IRS reference? Any help would be appreciated.
Thanks - Carole
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