Reporting Option (short) sales on Schedule D?
Question about reporting "option (short) sales on stock. 1099 B does not reflect the option sales, only normal stock sales. The detail shows option sales. Is it not reportable?
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apples517
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03/03/10 7:44am PST
Viewed by asker 03/03/10 8:43am PST
Viewed by asker 03/03/10 8:43am PST
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rbynaker
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03/03/10 8:14am PST
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It's reportable when the options are closed (either by expiration or by covering them.)
So if I sold a 90-day option on 12/15/09 for $300 and the value of the underlying stock goes down, on 3/15/10 I establish a basis in the option of $0 and have a $300 STCG on that date.
Rick
