SPX Credit Spread Trader

'Tis but thy name that is my enemy;--
Thou art thyself, though not a CALCULON.
What's CALCULON? It is nor hand, nor foot,
Nor arm, nor face, nor any other part
Belonging to a man. O, be some other name!
What's in a name? that which we call a rose
By any other name would smell as sweet;
So RISKARB would, were he not RISKARB call'd,
Retain that dear perfection which he owes
Without that title.'

Hahahaha

 

Cache,

Yes, my understanding is also that ETFs are not 1256... pity.

A couple of questions/claifications: all 1256 instruments (futures, options on futures, cash settled indices, options on cash settled indices) get 1256 treatment (i.e. 60/40 goodness along with M2M)... and there is no choice. Is that right?

Separate for this of course, is the hole M2M election which would subject to the entire portfolio -- 1256 and all else -- to M2M treatment. And you'd lose cap loss carry-forward and 60/40 treatment.... sound right?

 

Yep... Probs not a good idea to make the election if you only trade a cash settled index.

 

Yesssss, Juliet.

 

Risk ?

Is that you ? If so, we have to get couple drinks to celebrate this.

 

I hope somebody is out there who can HELP!!!!

I shouldn't have waited so long to do my taxes, but....

2005 is the first year I started trading ICs and so there are a ton of individual transactions.

There is a continuation sheet for Schedule D call D-1. Can I substitute a spreadsheet for it. Please say yes.

Thanks.

 

NP.

Yes, depending on context, d=days or d=delta.

 

yes....attach your spreadsheet to the end of return as a "statement" and write "see statement" on the part of sch D where you would make your entries. Make life easy on yourself and if IRS doesn't like it they will let you know...but they usually will accept it.

 

PS
the most important entries on the Sc D is line 3 and 10...MAKE SURE those two numbers add up to or more than the total amts reported by your various brokers 1099's

 

Thanks, Donna, you're a peach!

Do you know if OX has a tax worksheet like the one in ToS? I'm searching through their website and I can't find one. I have found a spreadsheet that can be downloaded but it lists each transaction (buy and sell) separately. If I use this I'll have to manually wade through the spreadsheet to put the buy and sell numbers on one row for each option leg. The ToS worksheet already lists the transactions the way that Schedule D wants to see them.