I have almost 200 of these entries where TurboTax needs more data (it requires me to click on each one and enter 0.00 for the cost basis)
is this a known bug and can it be fixed?
TurboTax 2018 Premier (MAC download)
Merrill Lynch 1099-B
MacOS Mojave 10.14.3
For comparison, my 1099-B import from TD Ameritrade handled the short options just fine with 0.00 cost basis. I wrote to Merrill Lynch and they responded that it's a TurboTax issue.
I can't do anything about the issue of the cost basis transferring as null instead of 0.00, but I can provide a work around. It's not ideal, but it is better than adjusting 200 + entries. You can enter your category totals instead of individual transactions. To do so,
After entering all
your category summaries, Look for "To finish reporting these sales,
follow the mailing instructions" and
click on the link for these instructions:
Take a moment to double-check that your statements are complete. For each sale listed, there should be:
In some uncommon cases, there will be an adjustment code and adjustment amount.
NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.
Here's how to mail your statements:
If you are e-filing
your tax return, then mail your statements along with Form 8453 to:
If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.
I am also having this issue! I would much prefer to be able to report all of my trades including my short options that expired worthless. I hope Intuit will fix this. Going through 100s of nulls is a real pain.
Additional info: I did an import from Interactive Brokers