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Last year I started to do some investing (mostly in the options market). Overall I took a loss of $1,400 and was trying to put this into my taxes.
When using Turbo tax (Premier) and putting in the option information you check off either if it was sold or expired. For everything I sold except for one this wasn't a problem. However, one particular option it was a bit of both. I purchased 75 contracts, (in two lots, one of 45 and another of 30) sold 50 of them and the remaining 25 expired. How would I enter this in Turbo Tax?? It only gives you the option to do sold or expired for a particular option, and not both.
I have fiddled around a bit, and the only was the loss comes out correctly is if I state I sold all 75 contracts. If I put in that I sold 50 of the contracts, it underestimates the loss I too. If I try to make two separate entries in, one for the 50 I sold, 1 for the 25 expired it shows the loss as larger than what it actually was. So should I put in that I sold all 75 even though I only sold 50 since the loss come out correctly?
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