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I strongly urge you to get a copy of Schedule D and the instructions and understand this thoroughly before you try to figure out how to convey the information to TurboTax online or any other software.
Phil Marti
Tax Preparer


I read through Schedule D and never saw where it specifically referred to how to enter options. As my option sales were at a loss, I am definitely including them on Schedule D. Two questions:

1. I entered them just as I did stocks (e.g., "1 INQJV" , meaning 1 INQJV contract, along with dates and amounts, etc.). Is this acceptable?

2. Because I am reporting proceeds that are not being reported to the IRS, my total sales figure will exceed those reported on 1099-B. Is that a problem, or is it only a problem if you report less than 1099-B?
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