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Retirement tax questions
It's not clear why TurboTax reports your option trades on Form 8949 while H & R Block reports the same transactions as a summary on Schedule D. As long as the cost basis has been reported and there are no adjustments that need to be made, you can delete Form 8949 and enter your option transaction information as a summary.
To enter your option transaction losses, after you have selected your brokerage firm from the drop down menu or entered its name manually, you will see the screen, Tell us about your [name of brokerage firm] 1099-B. It is here where you can select the option to enter your option losses as a summary.
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March 20, 2023
3:36 PM