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How to enter a negative sale price for the sale of an option on Form 8949

ramledray
Level 3

The IRS Form 1099-B from lists a negative sale price on the sale of an option.  How should this be entered on Form 8949 In LaCerte?

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3 Comments 3
George4Tacks
Level 15

Enter the negative as a sales price (as a negative) and scroll down to "1=purchased option expired, 2=written option expired" and enter a 2

I think this will accomplish the result you are looking for (I assume there is no cost basis shown)

 


Answers are easy. Questions are hard!
cakeen
Level 3

In ProConnect how can one enter a negative sales price?  This is specifically for call options.

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George4Tacks
Level 15

How about zero sales price and enter a basis. Also click the Schedule D tab in the upper section and Scroll down to just above the 2nd check box and find 1= purchased option expired.

For the reverse to happen enter sales price with no expense and enter a 2= written option expired. 

Play with it and see what the 8949 looks like.


Answers are easy. Questions are hard!