How to use turbotax to report stock index option trading?
June 13th, 2008 | by Adam |
Buddy asked:
For index option trading, there is a 60/40 rule. 60 percent of the profit is considered long term capital gain. 40 percent is considered short term capital gain. Does anyone how to report this in turbox so that turbotax knows the 60 percent part is for long term capital gain?
For index option trading, there is a 60/40 rule. 60 percent of the profit is considered long term capital gain. 40 percent is considered short term capital gain. Does anyone how to report this in turbox so that turbotax knows the 60 percent part is for long term capital gain?
Thanks.
Thanks.
BTW, I use turbotax online. How do I manually override with “long term capital gain”?
One Response to “How to use turbotax to report stock index option trading?”
By hirebookkeeper on Jun 17, 2008 | Reply
Over ride the form if you think it is calculating improperly or search for “long term capital gain” within the program.