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#5
04-18-2004, 05:53 PM
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 Re: How do I report an option/call on Sched D. Lewis Metzger <LJMetzger[at]aol.com> wrote: - quote - > andygreen[at]optonline.net (Andy Green) wrote:
The point is that there's no 1099-B for options trades.> > I bought a call option. 10 contracts of company ABC on > > date X and paid 200.00. the option expired on date Y > > (1 month later) with a value of zero. My accountant on > > Sched D reported it like so: > > > DESCR.|DATE ACQ|DATE SOLD|SALE PRICE|COST or BASIS|GAIN OR LOSS > > ABC 10/16/03 11/22/03 0 200.00 <200 > 1. The description should match what is on your 1099-B > equivalent such as: > a. 10 ABC Nov 20 Call options OR > b. 10 ABCKD > 2. The "SALE PRICE" column should say "EXPIRED" instead of ZERO. > 3. See page D-3 of the 2003 Schedule D instructions. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
04-13-2004, 06:59 AM
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| Re: How do I report an option/call on Sched D. andygreen[at]optonline.net (Andy Green) wrote: - quote - > Thanks all - Note to Lewis - There are no 1099-B's for
I understand that there is no 1099-B per se. Usually your> options. This is why I asked if the entry would suffice as > far as the IRS is concerned. They won't see anything but > that one entry on Sched "D". broker issues a 1099-B equivalent for option transactions even though nothing for options is reported to the IRS. The idea is to be able to match the statement from your broker (and/or your confirmation slips) to the tax return. Lewis << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
04-08-2004, 07:24 PM
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| Re: How do I report an option/call on Sched D. ed[at]edcosoft.com (ed) wrote: - quote - > andygreen[at]optonline.net (Andy Green) wrote:
Thanks all - Note to Lewis - There are no 1099-B's for> > I bought a call option. 10 contracts of company ABC on > > date X and paid 200.00. the option experied on date Y > > (1 month later) with a value of zero. My accountant on > > Sched D reported it like so: > > > DESCR.|DATE ACQ|DATE SOLD|SALE PRICE|COST or BASIS|GAIN OR LOSS > > ABC 10/16/03 11/22/03 0 200.00 <200> > > Is this correct?. Since its not reported on a 1099 I was > > thinking that this should have some notation that it was an > > option. My first options trade, so first time reporting a > > losss on an option. Please advise if this is o.k, or if I > > should ask my accountant to do a little better, or should I > > write in "call option" above the name of the company.. > Yes, write in "10 calls", or the option sysbol, if nothing > else so you remnember what it was. options. This is why I asked if the entry would suffice as far as the IRS is concerned. They won't see anything but that one entry on Sched "D". << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
04-07-2004, 09:46 AM
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| Re: How do I report an option/call on Sched D. andygreen[at]optonline.net (Andy Green) wrote: - quote - > I bought a call option. 10 contracts of company ABC on
Yes, write in "10 calls", or the option sysbol, if nothing> date X and paid 200.00. the option experied on date Y > (1 month later) with a value of zero. My accountant on > Sched D reported it like so: > DESCR.|DATE ACQ|DATE SOLD|SALE PRICE|COST or BASIS|GAIN OR LOSS > ABC 10/16/03 11/22/03 0 200.00 <200> Is this correct?. Since its not reported on a 1099 I was > thinking that this should have some notation that it was an > option. My first options trade, so first time reporting a > losss on an option. Please advise if this is o.k, or if I > should ask my accountant to do a little better, or should I > write in "call option" above the name of the company.. else so you remnember what it was. ed << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
04-07-2004, 09:27 AM
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| Re: How do I report an option/call on Sched D. andygreen[at]optonline.net (Andy Green) wrote: - quote - > I bought a call option. 10 contracts of company ABC on
equivalent such as:> date X and paid 200.00. the option expired on date Y > (1 month later) with a value of zero. My accountant on > Sched D reported it like so: > DESCR.|DATE ACQ|DATE SOLD|SALE PRICE|COST or BASIS|GAIN OR LOSS > ABC 10/16/03 11/22/03 0 200.00 <200 1. The description should match what is on your 1099-B a. 10 ABC Nov 20 Call options OR b. 10 ABCKD 2. The "SALE PRICE" column should say "EXPIRED" instead of ZERO. 3. See page D-3 of the 2003 Schedule D instructions. Lewis << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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04-07-2004, 09:08 AM
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| Re: How do I report an option/call on Sched D. andygreen[at]optonline.net (Andy Green) writes: - quote - > I bought a call option. 10 contracts of company ABC on > date X and paid 200.00. the option experied on date Y > (1 month later) with a value of zero. My accountant on > Sched D reported it like so: > DESCR.|DATE ACQ|DATE SOLD|SALE PRICE|COST or BASIS|GAIN OR LOSS > ABC 10/16/03 11/22/03 0 200.00 <200 That's fine. - quote - > Is this correct?. Since its not reported on a 1099 I was
I just give the 5-letter (or whatever it is) option> thinking that this should have some notation that it was an > option. symbol. Let the IRS look it up if they care. - quote - > should ask my accountant to do a little better, or should I
Don't worry about it.> write in "call option" above the name of the company.. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-05-2004, 11:43 PM
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| How do I report an option/call on Sched D. I bought a call option. 10 contracts of company ABC on date X and paid 200.00. the option experied on date Y (1 month later) with a value of zero. My accountant on Sched D reported it like so: DESCR.|DATE ACQ|DATE SOLD|SALE PRICE|COST or BASIS|GAIN OR LOSS ABC 10/16/03 11/22/03 0 200.00 <200 Is this correct?. Since its not reported on a 1099 I was thinking that this should have some notation that it was an option. My first options trade, so first time reporting a losss on an option. Please advise if this is o.k, or if I should ask my accountant to do a little better, or should I write in "call option" above the name of the company.. Thanks in advance - Andy << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| option or call, report, sched |
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