My situation is similar. I have sent off a secure email to Fidelity on the subject. See below. I await their response. The attachment referred to was a message string related to Expert ToddL99's answer.
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Problem with the way Fidelity reports transactions on Form 1099-B.
I am an active trader. I write covered calls and cash covered puts on equities. These may expire worthless, or I may need to buy them back at a loss or a gain.
On the Form 1099-B, Fidelity reports these as zero cost basis transactions with proceeds being either positive or negative. TurboTax (TT) rejects these entries. Each year I have reviewed a massive number of these entries to assure the TT software that Fidelity has reported these transactions as zero basis entries.
I have now read the attached string of comments from the TT experts and other TT community members *. It suggests that the problem is not with TT but with Fidelity's way of entering information on the Form 1099-B that I import to TT.
Please ask your tax experts to comment on my note and attachment.
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* Those at the bottom of the attachment are most on point.
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Thank you,
