Add training workflow, datasets, and runbook

training_data/curated/text/6fee31614450550bf7a49f9cbfdc3e7ca1aa4e4ba7c627e20b95aab89cb6eac9.txt

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+Chapter 41: Taxes 913 
+500 calls for $1,500 and sold them 6 weeks later for $3,500. Second, he bought an 
+OEX January 160 call for 3.25 seven months ago and still holds it. It currently is trad­
+ing at 11.50. Finally, he sold 5 SPX February 250 puts for 1.50 three days ago. They 
+are currently trading at 2. The net gain from these transactions should be computed 
+without regard to holding period. 
+Nonequity Original Current Gain/ 
+Contract Price Price Cost Proceeds Loss 
+S&P calls $1,500 $3,500 +$2,000 realized 
+OEX January 160 3.25 11.50 $ 325 $1,150 + 825 unrealized 
+SPX February 250 1.50 2.00 $1,000 $ 750 250 unrealized 
+Total caeital gains +$2,575 
+The total taxable amount is $2,575, regardless of holding period and regardless of 
+whether the item is realized or unrealized. Of this total taxable amount, 60% ($1,545) 
+is subject to long-term treatment and 40% ($1,030) is subject to short-term treat­
+ment. 
+In practice, one computes these figures on a separate form (Section 1256) and 
+merely enters the two final figures - $1,545 and $1,030- on the tax schedule for cap­
+ital gains and losses. Note that if one loses money in nonequity options, he actually 
+has a tax disadvantage in comparison to equity options, because he must take some 
+of his loss as a long-term loss, while the equity option trader can take all of his loss as 
+short-term. 
+EXERCISE AND ASSIGNMENT 
+Except for a specified situation that we will discuss later, exercise and assignment do 
+not have any tax effect for nonequity options because everything is marked to mar­
+ket at the end of the year. However, since equity options are subject to holding peri­
+od considerations, the following discussion pertains to them. 
+CALL EXERCISE 
+An equity call holder who has an in-the-money call might decide to exercise the call 
+rather than sell it in the options market. If he does this, there are no tax consequences 
+on the option trade itself. Rather, the cost of the stock is increased by the net cost of 
+the original call option. Moreover, the holding period begins on the day the stock is