Covered Calls Premiums in Roth IRA - Are they taxed and how?

As far as I can tell, in general no IRA earnings are reported at any time. They are just taxed as ordinary income when they come out of the IRA. This also applies to capital gains - if income would be taxed as long term capital gain if it weren't in the IRA, it's taxed as ordinary income when it comes out of the IRA.

Yes, all correct for traditional IRA. This is a Roth. Any legitimate trading within the Roth is tax free, as are withdrawals, within the rules of Roth.

According to JoeTaxpayer snipped-for-privacy@comcast.net:

It sure is. Peter Thiel put 1.7m shares of Paypal into his Roth in 1999, underpricing them at 1/10 cent each (arguably underpricing them which would be illegal.) They're worth $5 billion now, tax free.

I wrote some covered calls in my Roth a few years ago. I didn't "report" them in any way. It just folds into the account.