Message Font: Serif | Sans-Serif
No. of Recommendations: 0
<< Form 1099-B which I received from my broker (Scottrade) does not include option sales in 1099-B "Proceeds from Broker Transactions" section. And top of that page mentions that info on this page is being reported to IRS. On a separate page titled "Non-reportable Activity", form contains gross purchases and sales proceeds info for options. Is that how all brokers report? Has anyone used TurboTaxWeb to file return including option trades? How do you handle options in there? >>

Options are not required to be reported on the 1099-B. You report options on Schedule D. 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
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.