Considerations
GainsKeeper functionality allows you to record short option assignments and long option exercises. Once recorded, GainsKeeper will automatically include option costs or proceeds into the resulting buy or sell transactions in order to provide accurate cost and gain/loss calculations.
Since most brokers do not provide tax reporting, they will send separate option exercise/assignment transactions and buy or sell transactions that are not connected by any indicator or ID, and may arrive on different days. As a result, GainsKeeper cannot systematically process these. GainsKeeper is working with a number of brokers to improve their data in order to automate the process and enhance your experience.
To adjust for this:
Calls
Exercise - Delete the Exercise transaction and Buy transaction from the Trade Log. Go to Record Trades for Option and record an Exercise transaction. Use the total purchase cost of the buy sent by your broker and enter it into the Exercise form as Total.
Assign - Delete the Assign transaction and Sell transaction from the Trade Log. Go to Record Trades for Option and record an Assign transaction. Use the total sell proceeds of the sell sent by your broker and enter it into the Assign form as Total.
Puts
Exercise - Delete the Exercise transaction and Sell transaction from the Trade Log. Go to Record Trades for Option and record an Exercise transaction. Use the total sell proceeds of the sell sent by your broker and enter it into the Exercise form as Total.
Assign - Delete the Assign transaction and Buy transaction from the Trade Log. Go to Record Trades for Option and record an Assign transaction. Use the total purchase cost of the buy sent by your broker and enter it into the Assign form as Total.