Seasoned HODLer here with a question.
I’m expecting a big bonus in mid 2021 and I looked into call options for mid 2021 or end 2021 because I’m bullish. I signed up for an account on LedgerX but I’m unfamiliar with how bitcoin options are treated by the IRS.
Let’s say I exercise an option at expiry and I decide to transfer the ownership of the bitcoin to an address, is that a taxable event?
Scenario: I pay a $1500 premium for the option to buy 100 mini contracts at .01 btc each at a strikeprice of $50,000 with an expiry of December 31, 2021. Now let’s suppose S2F is right and bitcoin reaches $100,000 at expiry. I would then have a gain of $100,000 - $50,000 - $1,500 = $48,500. LedgerX would then give me the option to transfer ownership of the bitcoin once I fund my account. If just send that bitcoin to an address after funding the account for $50,000 is that event taxable? I get it’s taxable if I sell it. BUT is it taxable if I hodl?
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