Last year, I filed with turbotax and looks like a mistake happened with some of my webull trades. I sold some stocks that I received for free from webull for $200. I see in my tax return forms from last year that it had the cost of $67k under form 8494 (e) "Cost or other basis.
See the Note below and see Column (e) in the separate instructions". I have not noticed this or I would have tried fixing it last year.
I imported my apex/webull information by following instructions so I don't know how this happened. All I know is I definitely did not pay 67k for the stocks. I also opened my 1099 from webull and searched for that stock and it says unknown for the price.
I noticed the issue, when filing my taxes this year, when I look at turbotax wages and income tab I see a "Capital Loss Carryover" of 55k.
So, right now I am trying to figure out how to fix this in last year's taxes and remove this from my current filing. I read online that I can file an amendment, is that something I can do on turbotax? if it is not, and I have to file it on own separately then how can I update my current information to remove this loss.
this just shows me how to download but I already have it and trying to file an amendment for last year's tax report and fix the current information from my last year's filing.
On line two were I should have put 0 withholding I put how much I grossed how can I fix it and put zero?
What form are you referring to?
Go to Wages & Income > I'll choose what I work on to see a listing of Income Topics. Scroll to the one where you need to correct your entry, and choose Edit/Update.