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#2
12-31-2007, 06:44 PM
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 Re: How to handle stock options that were NOT exercised and sold @ aloss? On Dec 30, 7:55 pm, "rlsuse...[at]NOSPAMPUHLEEZschnapp.org" <NoSuchPer...[at]bigfoot.com> wrote: - quote - > dman81 wrote:
wanted to be 110% sure.> > Hello everyone! Nice board and glad to be a member. > > I recently purchased some options only to have sold them [at] a loss. > > They won't expire until next year but from the looks of things they > > will be worthless. Now I read in a previous post, that you would just > > report it as a loss in schedule D. Is that correct? > > Would this spreadsheet format work okay to calculate option losses? > > See this link:http://taxes.about.com/od/capitalgai...ain_Worksh.htm > > This would work for stocks but I'm unsure for the options. Please > > advise and thank you very much! > > Daniel > This is really pretty simple. If you bought the options and sold them > at a loss, then it's no different than if you bought stock and sold it > at a loss. You describe them as options, you list the purchase price > and date, you list the sale price and date, and from that you get the > gain or loss and whether this was a long- or short-term transaction. > Things get slightly more complicated if you exercised the options, or if > you held the underlying stock. Even then, it's usually relatively > straightforward. > -- > << ------------------------------------------------------- > > << The foregoing was not intended or written to be used, > > << nor can it used, for the purpose of avoiding penalties > > << that may be imposed upon the taxpayer. > > << > > << The Charter and the Guidelines for submitting posts > > << to this newsgroup as well as our anti-spamming policy > > << are atwww.asktax.org. > > << Copyright (2007) - All rights reserved. > > << ------------------------------------------------------- > Thanks very much! Since this is my first year doing this, I just -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
12-31-2007, 02:44 PM
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| Re: How to handle stock options that were NOT exercised and sold @ aloss? In article <3c2f3225-0a09-4805-ab49-bba65021c79b[at]s8g2000prg.googlegroups.com> , dman81 <danielayala81[at]gmail.com> wrote: - quote - > I recently purchased some options only to have sold them [at] a loss.
You bought a security (the option) and sold it at a loss. Just> They won't expire until next year but from the looks of things they > will be worthless. Now I read in a previous post, that you would just > report it as a loss in schedule D. Is that correct? describe it correctly in the Schedule D and there should be no problems. - quote - > Would this spreadsheet format work okay to calculate option losses?
For options that you buy and sell, yes, they're just like any other> See this link: http://taxes.about.com/od/capitalgai...ain_Worksh.htm > This would work for stocks but I'm unsure for the options. Please > advise and thank you very much! securities that you buy and sell. Options that you exercise (or have exercised against you) are different. Seth -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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12-31-2007, 02:55 AM
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| Re: How to handle stock options that were NOT exercised and sold@ a loss? dman81 wrote: - quote - > Hello everyone! Nice board and glad to be a member.
This is really pretty simple. If you bought the options and sold them> I recently purchased some options only to have sold them [at] a loss. > They won't expire until next year but from the looks of things they > will be worthless. Now I read in a previous post, that you would just > report it as a loss in schedule D. Is that correct? > Would this spreadsheet format work okay to calculate option losses? > See this link: http://taxes.about.com/od/capitalgai...ain_Worksh.htm > This would work for stocks but I'm unsure for the options. Please > advise and thank you very much! > Daniel at a loss, then it's no different than if you bought stock and sold it at a loss. You describe them as options, you list the purchase price and date, you list the sale price and date, and from that you get the gain or loss and whether this was a long- or short-term transaction. Things get slightly more complicated if you exercised the options, or if you held the underlying stock. Even then, it's usually relatively straightforward. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
12-30-2007, 06:40 PM
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| How to handle stock options that were NOT exercised and sold @ aloss? Hello everyone! Nice board and glad to be a member. I recently purchased some options only to have sold them [at] a loss. They won't expire until next year but from the looks of things they will be worthless. Now I read in a previous post, that you would just report it as a loss in schedule D. Is that correct? Would this spreadsheet format work okay to calculate option losses? See this link: http://taxes.about.com/od/capitalgai...ain_Worksh.htm This would work for stocks but I'm unsure for the options. Please advise and thank you very much! Daniel -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| aloss, exercised, handle, options, sold, stock |
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