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Options Tax Reporting

I started trading options last year. I sold a Put option that expired. I understand I report the premium I received on schedule D and write the word "expired" in column e (cost basis). However, Turbo Tax isn't allowing me to put "expired" in column e. Can I just put $ 0 or the word "worthless" in column e (cost basis)? Turbo Tax seems to allow the word "worthless". What does IRS want in (column e = cost basis) when you sell a call/put option that expired? Thanks in advance.

Reply to
catsndogs4u
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Are you saying you bought a naked option and it expired worthless, or that you had say 100 shares of XYZ and wrote 1 put contract on XYZ and those options expired, so you made money? BTW, I suppose you can put the words such as "expired" or "worthless" in the description.

Reply to
removeps-groups

I would hand-print EXPIRED in fine black pen above "worthless" or $0. Non-expert opinion.

Reply to
DF2

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