Why are my losses not offsetting this short term capital gain? The K1 that I used to file was incorrect and reported activity as ordinary business income (box 1 of 1120-S). I received an amended K1 that reclassifies the 2022 activity as short term capital gain (box 7 of 1120-S). I have capital losses from other activities in 2022. Those should offset 100% of my short term capital gain but when I update the K1, turbo tax is showing no change to my taxes/refund.
