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  • 1.  Nonreportable put/call transactions in supplement to 1099-B

    Bronze Most Valuable Member
    Posted 03-24-2015 09:55 AM
    This message has been cross posted to the following Discussions: NASSAUSUFFOLK and ncCPAp on the GO! .
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    We have a client with put and call transactions on the supplementary info of their 1099-B.  The form says the information is not being reported to IRS.  There is cost and proceeds.  Not sure how to treat this.  Anyone have experience with this?

     

    Thanks in advance!

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    Honorine Campisi
    SANDRA JOHNSON, CPA PC
    Bellmore NY
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  • 2.  RE: Nonreportable put/call transactions in supplement to 1099-B

    Silver Most Valuable Member
    Posted 03-24-2015 10:08 AM

    Sandy,

    Generally option transactions are not reported on 1099-b however you should be reporting these trades on the respective 8949 form for those transactions that have been closed(both sides completed). If you would like to discuss this further you can call my office at 631-549-5950.

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    Peter Morse
    CPA
    PETER B. MORSE, CPA
    Huntington NY
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