I suspect that TurboTax is flagging these as the cost basis is 0. What happened was that on the opening of the position, I sold the contract for some amount (say $200). Then on some later date, the contract expired worthless.
I am not sure if I am entering this correctly on two questions:
"How did you receive this investment" - did I "purchased it" or "short sale"? The latter sounds more correct.
Then it asks for situations that apply to this sale "This was a worthless security" sounds correct (true on close of that day or after). Is that right? Because I checked this box for one item, and then it lowered my tax liability (I doubt this is correct...). Also, how would I return and correct this?
Thanks in advance!
