I was told that zero taxes are owed on options profits since you never really owned anything like real estate or stock, you only control it for a short time.
2007-12-25 07:59:30 · 6 answers · asked by daleoption 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
Uh, you were told wrong. Profits are taxable. You never really owned anything? Yes you did, you owned the options.
2007-12-25 08:03:02 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
Hey,
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Cheers ;)
2014-09-22 14:59:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You will need to pay taxes just like stocks.
If you trade cash settled index options you get a better tax treatment. IRS tax code 1256 states a 60/40 tax. Meaning 60% is treated as long term gains and 40% taxed as short term gains. This can translate to hugh savings if you trade a lot of index options. Contract a qualified tax advisor for more information.
2007-12-26 20:16:06 · answer #3 · answered by Radar Man 4 · 0⤊ 0⤋
So..
You can't succed in binary trading without a strategy, a good method to follow and some kind of software support. They program I use is called "Autobinary signals". It helps finding loopholes for guaranteed returns. It's very easy to use and I'm earning good money. You find all the details on this site: http://www.goobypls.com/r/rd.asp?gid=551
2014-08-31 23:31:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Oh and did your friend tell you not to keep the profits because you didn't really have a chance to earn them?
2007-12-25 09:50:00 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Wrong.
Gains on options trading are taxable.
As usual, "someone" is wrong.
2007-12-25 08:16:50 · answer #6 · answered by Wayne Z 7 · 2⤊ 0⤋