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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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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