Turbo tax created both an 8949 and an 8960. On the 8949, the gain is listed in column h under long term Cap gains.
If I delete the 8960, it just recreates it.
In the worksheet if I check the box No for the question B Was the home sold used for investment, both the Yes and No options turn pink and it has no effect on tax. Even if the No box remains checked it is still pink and doesn't change anything.
I tried doing some "dummy" returns changing the type of trust, dates of acquisition and sale etc. and the 8960 remains the same. And it remains undeletable. It is charging me 3.8 % of the cap gains minus selling expensive.
The other, substantial expenses , like the repair/fix up cost, remain just a deduction on the 1041 and aren't transferred to the 8960.
If I am stuck paying it and since the 8960 is a separate tax, shouldn't I be able to deduct those expenses from the gain on that form as well as directly on the 1041? Basically,
I'm being taxed on the gain twice, shouldn't I be able to be able to deduct cost twice?
