Tax treatment of trading options on QQQ, DIA or SPY

Quote from omcate:

Can anyone confirm the following claim ?

The options on the QQQs and the other exchange-traded options of index stocks are subject to the provisions of IRS Code Section 1256.

http://www.tradersaccounting.com/a_quest14.asp
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Re; Big trends concerning CPA calls & smaller sideways and put losses.

Have called my CPA twice on derivitives this year;
fortunately IRS is like a game warden,much flexibility in enforcement in fish, hunt regulations.
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Some businesses expenses are worthwhile whether one writes them off or not;
trading books
giving to old test synagog, old & new testment church
home office
retirement funds reguardless of retirement or work habits.

Hope this helps.:cool: ; especially CPA calls
 
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