How to have TTx report short sales of options that later expire worthless?? this is a normal type of transaction, but TT doesn't enter this trade correctly!

Forum|Forum|1 year ago
June 7, 2025
1 reply
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Option sold short on xx date, and proceeds put into account. Option later expires worthless. Profit. TTx can't enter this properly. Why?

fanfare

Level 15

Detail Reporting Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary. No attachment is necessary.

There is no exception for the other categories.
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OPTIONS
options are covered transactions. short options are short term covered transactions (Category A).
covered transactions without adjustments don't have to be itemized so there is no reason to import.

Use the summary option to enter your box A subtotals on Schedule D Line 1a.
you will avoid all the TurboTax issues with basis and the problems from many brokers who incorrectly report details.

@6616jm