Robinhood wash sale covered call

If I sell a covered call Alan stock that I'm holding and it gets assigned does the premium I received lower my cost basis?Obviously the answer is a yes on paper but I'm more wondering how it looks on taxes.

The reason I'm asking is I'm wondering if the assignment Will be considered a wash sale or if it will be able to realize I was profiting on the transaction due to the premium I received on selling the call contract


I own 100 shares of XY stock @ $1.01 each

I sell a covered call $1 strike price and take in .02 premium

When it gets assigned I sell my shares for $1, technically losing on the transaction according to mu cost basis. Does Robinhood factor in the .02 premium I received making it a profitable trade instead of a wash sale?

Hopefully this made sense

Submitted October 09, 2020 at 09:34AM by qppaid12

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