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I sold a put option. It expired out of money. 1099B has $25 (premium/gain) in Box 1d. In TT, I select "Options", "Expired" then Box1d disappears. Where do I enter $25?

 
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3 Replies

I sold a put option. It expired out of money. 1099B has $25 (premium/gain) in Box 1d. In TT, I select "Options", "Expired" then Box1d disappears. Where do I enter $25?

instead of expired try entering the expiration date.

 

I sold a put option. It expired out of money. 1099B has $25 (premium/gain) in Box 1d. In TT, I select "Options", "Expired" then Box1d disappears. Where do I enter $25?

Turbo Tax asks me to select "sold"/"Expired". I have selected "Expired" and also entered expiration date. But, no place to enter the premium.

I sold a put option. It expired out of money. 1099B has $25 (premium/gain) in Box 1d. In TT, I select "Options", "Expired" then Box1d disappears. Where do I enter $25?

As you are seeing , TurboTax does not handle the "Expired" designation very well.

 

To report correctly as per IRS instructions, your expiration date is the Date Acquired for your short sale.

Date Disposed is the same or next business day.

Your cost is zero.

Your gain is the premium you received and it is a short term capital gain.

 

Since you have a gain, according to Taxlog Software,

your Date Disposed is the same as your Date Acquired.

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