Thanks for the answer. Does this mean that if the buyer of the contract exercises it he/she will get both my 50 shares and cash div and VZ shares?
After the reverse split my 100 shares become 50, so the call option I sell now becomes UN-covered, right? Will I be forced to buy another 50 shares - even before the expiration date?
Liza, this question is about MLPs on individual (non-IRA) account, and not BIP-specific:
MLPs' distributions are tax-deferred, but you still have to pay tax after you sell units. That's what I learned long time ago, but I am not sure this is correct. Please comment.
Thanks for your input!
P.S. I hold BIP on my ROTH, the UBTI amounts have been either zero or negligible. It is my understanding that even after I sell the units (which I intend to do in future) I won't pay any tax.
They said 1Q 2014 which is now. Anybody knows?