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

Hello, Mandy (Smitson CPA). Thank you very much for filling out our returns. I was getting very stressed every time I had to deal with taxes on my trading. You've made it amazingly smooth this year for us. I am so grateful. Hopefully, we can work again next year. Best of luck!

IC

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