I bought some calls which I let expire so as to have the stock delivered to me. I can not figure out a "Quicken assisted" method to close out the option position and roll the cost of the option into the basis of the stock delivered to me. Can Quicken handle this? As I understand it tax-wise, Since I took possession of the stock I do not have to report any gain/loss (in my case a gain) until I sell the stock and the holding period for the stock starts on the day of delivery of the stock (not when I took the position in the option).
If I do it "manually" I can sell the option for what it cost me and
then buy the stock at strike price + commission + option cost + option
commission. It is "tax accurate" and not too hard to implement but
doesn't really capture the transaction "flow"....
any help apprecaited!
- posted 13 years ago