Hi David,
Thank you for your reply. I tried what you suggested and the
1. The Capital Loss Carry over from 2023 is there and correct.
2. The All capital losses used in 2024 is there and also correct.
3. And Remaining losses carried forward to 2025 is also correct.
Everything looks normal. I am not sure why the capital loss carry over that I applied doesn't reflect correctly in the amount of the Federal Tax Due on the top left corner. It is saying that I owe over 14 thousands dollars for my Federal Tax.
Note: Before I downloaded the stock trades form1098 B from my brokerage into TT, I had about 4 K in Refund. As soon as I downloaded the 1098 B form into TT, my refund became Tax Due of 14K. I have more than enough short term capital loss carry over from 2023 to offset the gain I made with my short term gain in my stock trading for 2024. So, I don't understand why it didn't offset my gain and resulted showing that I owe taxes?
Another thing is I input the same information with another tax company to see if I get the same result. Sure enough, I didn't. Instead of Tax Due, I got Tax Refund . I have been with TT for at least 25 years so I would like to continue to use it but I am not sure how to fix this problem. Is there some kind of bug in the software that causes this? Thank you in advance for your help.
