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Author: devmann Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Taxes on options Date: 4/1/2002 8:43 PM
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Hi all !

Last year I sold a few covered calls on a stock holding that was in red.
I did this for a few months and made some money.

When I got my tax stmt from my brokerage, the options trades were clearly marked as "not reported to IRS".

Does this mean I don't have to report these to IRS on my tax returns ?
( I bet not ! :-) )

devmann
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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 59962 of 121572
Subject: Re: Taxes on options Date: 4/1/2002 8:58 PM
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You are responsible for reporting the options trades.

It is not a mistake that the brokerage did not report the option trades. I do not understand why but brokerages are not required to report option transactions.

Debra

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