Multiple Options Expired Worthless - How come turbotax doesn't import the "0s" from Interactive Brokers?

[paul-j-heckman]

I have a ton of option activity for 2022.  Many expired worthless.  turbotax appears to not pull in "0" for options that simply expire.  and to boot, it keeps freezing online when i try to entire, like the system is overwhelmed.  what is going on here?  Turbotax must know that many/most options held to expiry expire worthless...

[Mike9241]

good question but many others have reported the same issue when importing expires option transactions.  don't know if it's a Turbotax issue or broker issue not properly formatting the transfer file. 

if they are type A or D (proceeds and cost reported to IRS with no adjustments) they can be reported as just totals for schedule d lines 1a or 8a. 

[paul-j-heckman]

the form 8949?

"proceeds" definitely lists 0 on the csv generated by Interactive Brokers

[paul-j-heckman]

i mean i legitimately don't know what to do here...

would seemingly take hours to key all of this in after all the clicking in, clicking out, hitting confirm, next, etc....

has to be a better way.  i think i recall this from turbotax last year feels odd they haven't addressed

[fanfare]

Options are covered transactions.

 On covered products your closing transactions  without adjustments do not requre Form 8949.

TurboTax supports Schedule D Line 1a and Line 8a which is what you want to use here.

@paul-j-heckman