How to manually report options credit spreads in turbotax where the form only shows profit or loss realized in closed contracts? Should total proceeds be the profit?

[makeitreynes]

How to manually report options credit spreads in turbotax where the form only shows profit or loss realized in closed contracts? Note: Turbotax is not picking this 1099-b form up automatically. For each leg/line item, should total proceeds be the value under profit if positive. If positive, the cost basis as zero? Whereas, if negative, the total proceeds zero and the cost basis the negative value as a positive number? For example, here's a zero days to expiration credit spread in my 1099b Option symbol, Profit or loss realized on closed contract XSP 08/28/2024 563.00 C, $ 38.68 XSP 08/28/2024 564.00 C $ (18.32) Should the first sale be: total proceeds: 38.68 cost basis: 0 Should the second sale be total proceeds:0 cost basis: 18.32 Where in that one credit spread i made 38.68 - 18.32 = 20.36

[baldietax]

are these transactions presented separately in the 1099-B as 'regulated futures contracts' / Section 1256 Option Contracts etc... if so it's possible they should be reported on Form 6781 rather than Schedule D/Form 8949; in TT go to Wages & Income / I'll Choose What I work On / Investment Income - Contracts and Straddles and also check the IRS instructions for Form 6781.  Not a CPA and I've only had limited experience in this form but wanted to point you in this direction; I had a few SPY spreads last year which E*Trade reported as Section 1256.