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Get your taxes done using TurboTax
no illustration which would help. is part II section L completed.
your actual net is
ordinary loss
+ 1231 loss
= total losses
reduced by long-term capital gain
= net gain or loss
this should match section L current year net income (loss) unless you omitted something
ordinary loss flows to schedule 1 line 5; 1231 loss which flows to form 4797 then flows to schedule 1 line 4
while the capital gain flow to schedule D line 12
‎October 1, 2025
10:03 PM