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New Member
posted Jan 10, 2023 7:13:24 AM

Has TurboTax fixed its errors with reporting covered calls ?

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3 Replies
Level 15
Jan 10, 2023 7:25:07 AM

You might want to mention the exact error(s) for reference.

New Member
Jan 10, 2023 7:29:15 AM

TurboTax wants you to enter zero for every single call transaction sold and purchased.  This happens as I import myn1099 from my financial institution reporting each transaction for the year.  I was told last year that either TurboTax would fix this or  would be told that we can just submit at a “summary” level without each transaction perhaps ?  Either way I want to know what to do this year.

Level 15
Jan 10, 2023 10:57:37 AM

option trades are covered transactions.

You can report their subtotals on Schedule D line 1a and 8a as long as they are without adjustments.

No mailing is needed. no attachment is needed

 

@fredkopf