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Actually, I have two questions:

1) If I write a put and then eventually buy that put back to close the position, are all proceeds from the put still reported for tax purposes, or can I deduct the cost of the put purchased to close the position?


2) If I do close a position as described above, does the wash rule impact my writing a new put?

To make it more concrete, I wrote some Linn Energy May puts. The stocks action ex-div took them down, into the money. I decided to buy the May puts back to close the position, rather than let it execute. I was still up on the trade, though.

I'm wondering if I can now write June puts at a lower strike, or do I have to wait 30 days because of the wash sale rule.


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