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