Turbotax 2023 desktop premier (for Mac) did not import my written (short) call options correctly. The imported as stocks, the description was messed up. When I go to correct, and select "Options" and "Expired", there is no box for proceeds. I never had any issues in prior years using Turbo Tax desktop.
Is there an issue with the import function regarding options?
Why don't I see a "Proceeds" box when "Expired" (rather than sold) is selected?
In the past TurboTax always had problems with "Expired". i.e. it didn't work.
I guess that is still true.
For traders active investors, the best approach is to use aggregation aka enter a summary.
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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.
Thank you for the reply. Unfortunately, I have an item that has an accrued market discount exception, so I can't summarize without having to mail in a form.
Turbo Tax has always had trouble with expired options, but in previous years, you could work around it with a manual override. This year they have removed the ability to manually type "Expired" into the amount (proceeds or cost-basis) fields, which the IRS instructions say to do for expired options. Can Turbo Tax fix this expired option issue in a software update or offer a work-around? This seems like a loss of capability from previous years, and it should be an included feature in the PREMIER product marketed "for investors"