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How do options trades affect my taxes?

How will options trades affect my taxes?

At Investing Daily we don’t give tax advice, but here here are two types of resources that do:

  1. Your options broker can be a good resource for options-related tax questions. TD Ameritrade offers this practical information: “Around February of next year you will receive a consolidated form 1099 that we prepare and send to the IRS per their instruction. We do offer the ability to import this information to some tax software, such as TurboTax. Regarding how option spreads are taxed, you can always give us a call to speak directly with our Tax Team and they will be able to provide more clarity on a specific example.” This is how tastytrade explains Taxes for Traders.
  2. If you want to be more hands-on with your tax preparation, TradingLog may help. See their Comprehensive Guide: Special Tax Rules for Options.
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