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purple_rain
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- Posted Re: 6781 not transferring correctly on Investors & landlords. December 3, 2020 2:27 PM
- Posted Re: 6781 not transferring correctly on Investors & landlords. December 3, 2020 8:15 AM
- Posted 6781 not transferring correctly on Investors & landlords. November 29, 2020 10:14 AM
December 3, 2020
2:27 PM
Thanks for your continued interest. This is not a 1256 contract, but rather the 2nd bullet "Gains and losses under section 1092 from straddle positions". https://www.law.cornell.edu/uscode/text/26/1092 I am expecting the stock gains to be an "offsetting position" for the option losses.
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December 3, 2020
8:15 AM
Thank you. I tried this, and the agent could not understand the problem. I am not sure how to communicate “value not being transferred from 6781 to schedule D” in a clearer way...
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November 29, 2020
10:14 AM
I am trying to file an amended return now by adding an offsetting gain on a straddle position. (I learned after filing 2019 that I didn't enter all required forms for stock options.) It shows up correctly in my income summary list on the website. However, it is not transferred correctly to Schedule D to offset the reported loss (and offset the carryover loss). This is a simple "rolling covered call" - the stock increased in value, I still hold the stock, I bought back a short option at a loss and sold another short option. I did not choose any of the complex straddle election boxes as I believe they don't apply. The increased stock value means that I can't claim a loss on the position for the year. I tried calling support, but the agents were not able to understand the problem. Is there any way to report this issue to TurboTax more directly?
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