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bridge5
Returning Member

Why is the last entry on PA schedule D not displaying the net loss/gain. It is implied because line 2 shows the correct total.

 
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3 Replies
DMarkM1
Expert Alumni

Why is the last entry on PA schedule D not displaying the net loss/gain. It is implied because line 2 shows the correct total.

Yes, on the PA Schedule D, as long as line 2 is correct (from entries in table 1 above it) that is what is used to calculate line 11 which then flows to PA 40 line 5. 

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bridge5
Returning Member

Why is the last entry on PA schedule D not displaying the net loss/gain. It is implied because line 2 shows the correct total.

The last entry of line 1 is from the continuation statement. The net gain field  is empty and PA DoR say it is an arithmetical  error even though line 2 is correct. DoR is charging penalties after erroneous amendment

 

JulieS
Expert Alumni

Why is the last entry on PA schedule D not displaying the net loss/gain. It is implied because line 2 shows the correct total.

Because you received a letter from your state about a return you did in TurboTax, you can get help with that.

 

If you purchased Audit Defense for the return, follow this link to get help with your letter.

 

If you didn't purchase Audit Defense, you can contact the Audit Support Center for help with your letter. Follow this link for more.

 

The Tax Expert you reach will be able to help you review your return and understand the letter. If they believe the state is wrong, they can help you respond to the letter. 

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