Is "Box 1d - Proceeds" ommited for expired options contracts?

[dynamite369]

I am just finishing up my taxes and noticed the "Sold or expired?" question for my options investment. I am a bit confused on how to answer this. When I click on "Sold," the "Box 1d - Proceeds" text box is present; however, when I click on Expired, the Box 1d - Proceeds disappears. My 1099-B illustrates that my option investment as not a "Sale," but an "Expiration" under "Additional Notes." Does this mean I do not need to report the proceeds of an expired options contract?

For some context, I sold a put contract on 06/05/2020, which expired on 06/19/2020 for a $0.05 premium. I received this premium as I did not close out my position upon expiration and the contract closed out of the money, so I did not receive the shares.

[JohnB5677]

Yes, you do need to report the proceeds of an expired options contract if you had proceeds from it.

Let's first address the Sold vs Expired condition. 

If you purchased a contract and time ran out and the contract was out of the money.  You would have gotten nothing and the contract "Expired".

If you purchased a contract and time ran out and the contract was in the money.  You would have sold it for it's current value, or purchased the stock.  This is not an "Expired" condition and you would have proceeds.

Now,

If you sell a contract you will receive "cash" in your account.  If the contract expires, you can keep the money and show a profit.

In the case you presented.  You sold a put for $0.05.  It closed out of the money so you did not purchase the shares.  You had a net profit of $0.05 per contract.

[Anonymous]

To re-ask the original question - if they are expired, but there were proceeds (out of the money covered calls, for instance), How do I get the proceeds box to appear while still checking the "expired" box?

[GeorgeM777]

If the option you sold was a covered call, then that sale of the covered call is what produced the proceeds, and thus, that is the transaction that you report.  In other words, it appears the covered call was your opening transaction, and the fact that it expired meant that the price of the underlying stock did not rise above the strike price of the covered call option. 

In this circumstance, click the Sold radio button rather than the expired radio button.  That way you will be able to report your proceeds from the sale of the covered call.   

@dynamite369