turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jcbyrd1
New Member

Turbo Tax 1099 upload shows Some 'long term' are actually ST; math on gain/loss wrong on some lines. Do I correct?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Turbo Tax 1099 upload shows Some 'long term' are actually ST; math on gain/loss wrong on some lines. Do I correct?

review your broker's statement where in fine print it will tell you what Box on Form 8949 to mark.

 

@jcbyrd1 

JamesG1
Employee Tax Expert

Turbo Tax 1099 upload shows Some 'long term' are actually ST; math on gain/loss wrong on some lines. Do I correct?

You may correct.  As you review your sales information and brokers statements, you may correct short-term and long-term basis.

 

  • Short-term gains or losses come from the sale of investments owned one year or less.
  • Long-term gains or lossses come from the sale of investments held more than one year.

In TurboTax Online, at the screen Let us know if any of these situations apply to this sale, select I need to correct the holding period reported on my 1099-B.

 

 

Be advised that inherited items are always treated as long-term.

 

@jcbyrd1 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question