Solved
Trader of Securities 4797 double counted?
I am an MTM elected trader of securities. I have entered the necessary fields to have my Form 4797 properly show my gains with the "Trader of Securities - See Statement". This is transferred to my Schedule 1 - Line 4. However, on my Schedule C, that same amount is entered on line 1a, and propagates through the schedule C to my final profit on Line 31, which is ALSO on Schedule 1 - Line 3. These are then ADDED together and placed on my 1040, effectively doubling my income (less Schedule C deductions). What am I doing wrong?
Turbotax Deluxe entered via easystep. Any advice is appreciated!
