I have errors in my 2020 federal return related to reporting of losses on covered calls that were closed out. How do I fix?

There are a couple of options (no pun intended), that you might try that should eliminate this experience. 

These particular steps may provide the ability to post a negative value to form 1099-B, Box 1d.

1. Select the option for a 1099-B
2. Select to type it myself
3. Enter Bank
4. I'll enter one sale at a time
5. Enter the stock data and leave 10d BLANK
6. When you hit Continue you will get a RED error message
7. At the bottom of the screen select Allow me to continue with incomplete information  > Continue
8. Any less common items will be blank.  Select Done
9. No this is not employee stock
10. Select the last item An adjustment is required for reasons not already covered.
11. Enter the negative number that you had in Box 1d.
12. This will complete the transaction 

Another option is to put $1 in the proceeds box and then add that $1 to the negative gross proceeds as your cost basis (positive figure). This will provide the accurate results of income and tax.  The most important thing is the correct end results on the tax return.

I'm sorry, DIANEW777, but that's a ridiculous solution.

The program simply needs to be better than that, because it's the programming logic that is creating the error situation.  I understand the logic you used to arrive at the correct dollar figure for the profit/loss number, but why the all fuss?  You have an amazing piece of software yet you can't work with negative numbers?  It's simple addition and subtraction.  Seems very bizarre to me.  Why do you need to adjust the numbers in the first place-- that's what's creating the problem!!  I am baffled about the rationale for even taking the route.

I have the same situation re: sold covered calls and I have 66 identifiable transactions.  Perhaps you would like to come by and enter the data for your proposed solution on my return, because I certainly will not be doing so-- not happening!!

CLARIFICATION:  MY ERROR IS OCCURRING ON THE NJ-DOP form (disposition of property)

Please do better TurboTax-- very disappointing.  I don't expect a reply.

And one more thing, while we're at it.

The Federal cap gains worksheet uses a different methodology than the state worksheet, resulting in the following additional error:

Sch NJ-DOP: column D - Price cannot be greater than the federal amount

Heres an example: Sold one covered call for $50.  Bought it back to close the position at $75 to prevent the stock from being called away.

Here are the real numbers:

Actual data:  Sell to open price:  $50.  Buy to close price: $75.   Result:  Loss of $25

TT Fed worksheet:  Proceeds:  -$25.   Cost basis:  $ 0.   Result:  Loss of $25

TT NJ state worksheet:  Proceeds:  $0.   Cost basis:  $ 25.   Result:  Loss of $25

I've previously seen issues with the "Quantity" field being reported as a negative number in the case of a short sale so maybe that's it, but this is just pretty poor programming/quality control in my view.  At the very very least be consistent in your methodology.  It took quite a bit of searching and many wasted hours to ascertain what was actually happening here.

You need to do better Turbo Tax.  Once again, I do not expect a reply.