Tax Treatment For Trading Options (Recording)

07 Mar

Mar 07, 2017 at 4:30 pm EST


Recording
Join trader tax expert Robert A. Green, CPA as he explains:
  • How options traders may qualify for trader tax status benefits, and the challenges they face from the IRS.
  • Tax treatment for options is diverse, including simple and complex trades on securities vs. Section 1256 contracts.
  • Outright option trades: trade option (closing transaction), the option expires (lapses), and exercise the option.
  • Complex option trades: straddle loss deferral rules.
  • Brokers don’t report wash sale losses between different option exercise dates, but taxpayers should.
  • A timely Section 475 election exempts options traders from wash sale losses, straddle loss deferral rules, and capital loss limitations.

Testimonials

After attending a few of the Green webinars, I quickly realized that Bob, Adam and Darren really know all the ins and outs when it comes to the tax handling, preparation and compliance for trading forex. As a full-time trader, their firm guided me in selecting and setting up a business entity for my trading. I also used Green for tax compliance for both my business and personal returns. At first I was hesitant to not have a local CPA, but with the technology we have today that is a non issue. I found Adam and his staff to be highly knowledgeable and he also answered any questions I had in a very timely manner. The tracking templates were easy to use and helped me keep all my expenses organized. I will continue to use Green going forward as I feel that my returns will be fully compliant with the IRS and that they are helping me to utilize the tax code to my benefit. If you are a serious trader I highly recommend their services.
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