topic Re: Pfic exemption question (form 8621) in Get your taxes done using TurboTax

Pfic exemption question (form 8621)

selfprepper — Wed, 11 Feb 2026 10:50:22 GMT

I accidentally bought shares in a PFIC in my non-IRA account this year and wrote calls against them. I am wondering if anyone knows whether I'll be subject or exempt for the reporting requirements.

I bought 20k of the PFIC and wrote $1500 worth of calls against it. I have liquidated the entire position. It was initiated in May and liquidated in October. I have a $46 loss on the stock, and a $390 profit on the calls. I received $226 in dividends.

I can't figure out if I've qualified for the 50k de minimus exemption (married joint). If not, can I purposefully generate a loss in the more options so that I won't have to report and how much of a loss do I need to generate?

Thx!

Re: Pfic exemption question (form 8621)

Anonymous_ — Mon, 23 Dec 2024 16:57:13 GMT

Re: Pfic exemption question (form 8621)

selfprepper — Mon, 07 Oct 2024 17:46:11 GMT

I've seen these links but they don't have much way in specifics.

Appreciate the help.

Re: Pfic exemption question (form 8621)

pk — Mon, 07 Oct 2024 19:10:28 GMT

@selfprepper , sorry . This is outside of my knowledge bandwidth. My applogies.