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Pfic exemption question (form 8621)

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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3 Replies

Pfic exemption question (form 8621)

 

Pfic exemption question (form 8621)

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

 

Appreciate the help.

pk
Level 15
Level 15

Pfic exemption question (form 8621)

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

 

pk

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