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Investors & landlords
Other forums are saying that this is a Turbo Tax error that has occurred in previously years. Can you share where you saw “ Starting from 2020, IRS will reject (no longer allow) negative proceeds....“. My situation is I first sold naked puts and bought it back later for a loss (paid more than what I initial sold it for). TD Ameritrade is showing a zero cost basis and a negative proceeds. No problem for previous years. The IRS instructions say that what is on the return needs to match what has been reported by the brokers to the IRS. Most brokers if not all are still showing negative proceeds and claim that they are correct. Thanks much if you could elaborate
February 13, 2021
5:31 PM