@jwag01 wrote:
I actually lost money when I sold but because the sum was large the full amount I received back is being taxed? Does that seem right? I just want to be sure.
No, that's not right. But it has nothing to do with how large the amount was. If you had a loss on the sale it should show as loss on your tax return, not a gain. Where in TurboTax are you seeing that the full amount that you received is being taxed? The only place you could see the taxable amount is on a TurboTax summary screen that shows "Gain/(Loss)" for the sale, or by looking at the gain or loss for the sale in column (h) on Form 8949. Some TurboTax screens show "Gross Proceeds," but that doesn't mean that the proceeds are being taxed. It just means that that's the amount you received.
