Hello, if I want to tax loss harvest using Turbo Tax online, can I just import the brokerage information and Turbo Tax will automatically apply my tax loss harvest or I will have to do the calculation and apply it manually?
For example, I have a harvest a capital loss by selling an investment with a cost basis of $30,000 when the price drops to $25,000. If I enter my connect Turbo Tax to my fidelity account, will Turbo Tax use information from my annual 1099 to calculate the tax loss harvest resulting capital loss of $5,000 (cost basis of $30,000 minus sale price of $25,000) to offset the same amount of capital gains, they could lower this year’s tax bill by $750.
Or am I expected to do the calculation?
