Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Thank you. I'll get pub 550.
But in the meantime, can you tell me WHERE on the tax form options go?
Do I put them on Sch D along with my 1099-B gains/losses even though it is not reported on 1099-B?

Both of my options that I sold expired worthless. Both were sold in 2010 but only one of them expired in that year. The other expired in 2011. But I got cash money for both in 2010 so I'd think all of that would be reportable as income in 2010. Even though quicken does NOT report it that way.

Quicken reports the expired option as capital gain in the year it expired - 2010 for one of my options and 2011 for the other.

Anyway, I've searched through Turbo Tax and don't see where to report the income. From my Googling efforts, I believe it would be reported on Sch D in addition to 1099-B stuff. But if you could confirm that I'd appreciate it. And should I follow Quicken's procedure of reporting the income only when the option expired?

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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.