I have a customer that had stock sales and also traded some options. I understand completely how to prepare the schedule D for the stock sales. But what about the options? They are listed on his 1099 on a page that says "not provided to the IRS". Does this info show up on the tax return?
-
-
Report on Schedule "D"
In the same manner as stock. Watch for options that expired worthless and have no close date. If there are open options in the last couple months of the year check the Jan - Mar statments of the next year for a close if the expiration date is past the end of the year. Better yet have your client prepare the summary.In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de Tocqueville
Comment