[jonstewart123]

Hello

I dabbled in options last year. Both bought put and call options and sold call options (write call options).

Since I am using turbo tax, it does not let me put down expired as the net proceeds. Instead I got around by putting 0.00. Is this okay?

For example, Let say I bought Exxon mobile put for August 2008 60 call price. Let say I paid 60 dollars for 1 put.

At expiry, it was 80. So I let it expire. My net loss is 60 dollars.

In this case, can I put my cost basis as 60 dollars and since I cannot write expired can I say 0.00.

Is there a way around it -> can I print it and ink out 0.00 and put expired. Don't want white ink all over my returns.

Appreciate all your help in advance.

[ebaines]

In your example I would suggest putting $60 as the purchase price, $0 as the sell price. And in the description of the property write: "1 Put XOM 60 call price August 2008 - expired worthless." This makes it clear what happened.