TriGuy
New Member

Deductions & credits

Yeah, it's importing short transactions weirdly.  Instead of importing sales proceeds as the proceeds from selling short and cost basis as the cost of covering, it is importing the net profit / loss from the position as the sales proceeds and leaving the cost basis field blank.  You can manually correct proceeds and basis on each transaction, or you can just put a "0" in the basis field and TT is able to manage it.  I'm no accountant, so I can't comment on how the IRS would feel about option 2 (reported gains are the same either way).  At least this is the specific issue I ran into.