Something on my 1099 says that option trades aren't reports to the IRS. Does that mean I cannot write-off losses from option trades?
2007-02-05 10:31:44 · 4 answers · asked by snapshot8d 1 in Business & Finance ➔ Taxes ➔ United States
No, you report gains or losses on option trades just like trades on stocks.
2007-02-05 13:07:54 · answer #1 · answered by Judy 7 · 0⤊ 1⤋
Losses can be deducted. There is a cap of $3000 per year of total losses after netting against gains that can be used on your tax return.
2007-02-05 11:18:17 · answer #2 · answered by WealthBuilder 4 · 1⤊ 0⤋
you use Sch D and the new form 8949 which lists quite a number of transactions if your program or the service you use limits the entries, you might just use a spread sheet of all the transactions and attach to the 8949 you will notice you have three options on the 8949 which you need to mark
2016-05-24 19:41:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can use losses to offset like gains.
2007-02-05 10:41:59 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 1⤋