Question

OMG, you've ruined TT for options traders -- can't handle expired options!

Forum|Forum|1 year ago
March 18, 2025
2 replies
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Just imported my 1099B and it wants me to edit over a hundred transactions because either the cost is zero or the proceeds is zero. THIS IS NORMAL FOR OPTIONS! Why do I have to spend hours trying to find the check box, "This is an option that was written and expired worthless" or "this is an option that was bought and expired worthless." So far I haven't even found this check box, it must be buried deep on each individual 1099B. Pathetic!

D

DavidD66

I recommend you delete your imported 1099-B and reenter it manually. Instead of entering every option trade, enter summary totals for each asset sales category. It will require you to mail a copy of your Form 1099-B along with Form 8453 (which TurboTax will generate). To this in TurboTax Online, Click on Search

In the Search Window type 1099-B
Click on Jump to 1099-B
Click + Add an Account (if the account you were trying to download is showing, delete it first)
Answer Yes to "Did you get a 1099-B or a brokerage statement for these sales?"
Click on "I'll type it in myself"
Select your Bank or brokerage and click Continue
On the page with "Tell us about your…. 1099-B" click the button "I'll enter a summary for each sales category"
Enter your Investment Sale information and repeat to you have entered for each category.

After entering all your category summaries, Look for "To finish reporting these sales, follow the mailing instructions" and click on the link for these instructions:

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

K

KlondikerAuthor

I don't want to use the 1099B summary method to enter my transactions. How do I tell TT that a security is either 1) an option that was written and expired worthless, or 2) an option that was purchased and expired worthless. Last year there were checkboxes for this that were accessed when TT was checking the return for errors. Can I just keep the cost or proceeds at zero or will TT not allow the return to be efiled?

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MrMikeS

Expired options worked fine for my Apex 1099-B, showed zero proceeds and a loss. I did have to put in all the "various" where that appeared for the Date Acquired, but you can do these in bulk by checking the boxes and clicking Bulk Edit.