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This was a bug in TurboTax that has been fixed. If others were having the same problem then they should be able to submit now without issue. The problem was that TurboTax would not allow a negative entry when that was how it was supposed to be entered. No issues anymore. TT fixed it!
So I have completely finished my taxes, but Turbotax will not allow me to efile until I have fix the problems in review. Very annoying as I have entered it exactly how Etrade reported my short puts for a loss. A negative cost basis and $0 in proceeds. Do I need to go through my records and figure out the actual numbers for these trades? I would assume my proceeds would be the original amount I received and cost basis the amount I bought to close?
This was also done on the short puts in which I made money on. Even though these aren't flagged should I do this here as well?
This was a bug in TurboTax that has been fixed. If others were having the same problem then they should be able to submit now without issue. The problem was that TurboTax would not allow a negative entry when that was how it was supposed to be entered. No issues anymore. TT fixed it!
I still have this issue and how do i fix it..?
If you sold a put short, you received a premium up front. This is your proceeds, (not a negative cost basis). If the option expires, the cost basis is zero. If you bought the option back. The purchase price of the option at the time would be the Cost Basis.
TurboTax uses the logic of money received is income, money for purchases is cost basis.
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