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Level 2
posted Apr 15, 2022 8:51:31 AM

Option Trading

I'm entering option trades from my 1099-B. I let some covered calls expire rather than buying them back. But if I chose "Expired" in TurboTax, the proceeds from that transaction (from box 1d) disappear. Should I enter "Sold" instead?

0 2 538
2 Replies
Level 15
Apr 15, 2022 8:56:42 AM

TurboTax handling of the "EXPIRED" selection leaves a lot to be desired.

Level 15
Apr 15, 2022 8:59:00 AM

@eremitic 

if you were short, don't use that option.

the correct Date Acquired for a short that expires is the date of expiry.

Date Disposed is the next business day, or the same day if you have a profit, which is the case when it expires.