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CPR109
New Member

is there a work around for a $0 cost basis?

i sold an option for $100 which closed out of the money so my proceed/ gain loss is $100. Turbo tax wont accept $0 as a cost basis. What is the work around?

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1 Reply

is there a work around for a $0 cost basis?

$0 cost basis should work fine, how did you enter it?

 

are you using online version or desktop?

 

if entering one by one if you select "Options" for the type of investment, Turbotax tries to be clever with sold vs expired dropdowns but not clever enough as it doesn't work for selling options; just enter it as sold even if expired, or just enter it as stock, these selections don't matter as long as you get the right 1099B cols onto Form 8949 / Schedule D.

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