Why aren't options reported on 1099

Discussion in 'Options' started by matador04, Sep 17, 2009.

  1. The trades only come in as supplemental...?
  2. 1099 is not appropriate for capital gains and losses.

    Options are reported on Schedule D.

  3. I think the real question is why they are not reported by brokerages on the 1099-B along with security trades.

    I've wondered this myself.

    - Ray
  4. r-in


    Dirty little secret, Congress makes sure option trades are only self reported for their own benefit. They use options to make a fortune and fund their reelection campaigns. They talk to their CEO buddies or others and tell them about the rewards coming their way if they give them some financial, or blockbuster news tips before release and they buy options ahead of the release. Then they clean house after release, write a few tax laws to benefit the company or individual, and all are happy. They don't report them and make sure the brokerage buries any identifying information. :D :D :D
    How do you like that one for the conspiracy nuts!!!?
  5. I was referring to the segregation of securities trades and options trade on the statement the brokerage sends. It specifically states "supplemental tax information: non reportable"
  6. Don't drink the Kool Aid (aka Flavor Aid)

  7. The brokerage sends every trade to the IRS???

    So the IRS knows what you buy and sold etc..
  8. Not the specific trades, just dividends, interest, original issue discount, miscellaneous income, etc
  9. never traded options, but where is the evidence of this? No brokers report options, but they report stocks, futures, bonds, forex???
  10. Interesting. But I'd be more convinced of your credibility if you added even more smiley faces to your posts.
    #10     Sep 18, 2009