Vanessa A
Expert Alumni

Get your taxes done using TurboTax

Did you select that it was a long term gain?  Go back and double check your entries to see if you have it listed as a C or an F.  If it is an F, then it would be long term. If it is a C, then it would be short term.  You can do this by going to the income summary screen and clicking edit next to the investment you sold. 

 

Double check your dates.  Make sure you entered the correct year for purchase and sales. 

 

Also, what is it that you sold?  If they were collectibles, the rates do not apply.  Collectibles are an exception to the capital gains tax limit.  They can be taxed at a rate of up to 28% even if your income is below the threshold to have the rest of your capital gains taxed at 0%. 

 

 

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