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Can you write off as a loss the price you paid for options you never did anything with?


Greetings. If you purchased a stock option which expired you have a capital loss. This loss is normally reported on Schedule D along with stock gains and losses. (Write "Expired" in the space for the sale amount.)

If you had offsetting positions open at the same time (for example, if you bought both a put and a call) on the same stock, you will have created what the IRS calls a "straddle" and report your gain(s)/loss(es) on Form 6781.

Good Luck,
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