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After you file
I calculated my taxes with TurboTax.
I then remembered that I had sold some S Corp stock for $ 1,900.00. My basis in this stock was $190.00, 30 years ago. This gave me a long-term capital gain of $1,710.00.
TurboTax calculated an increase in my tax liability of $562.00. (33%).
This is clearly wrong. Any Ideas?
May 1, 2021
1:29 PM