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Why does Turbo Tax show long term capital gain on a short term transaction
Investment was in a Limited Maturity Bond Fund (Mutual Fund) for less than one year. 1099-B shows a gain which is reported by Turbo Tax on Schedule D, Line 7. But then Turbo Tax shows a long term gain on Lines 13 and 15 and adds Lines 7 and 15 and reports that amount on Line 16. No where on the 1099-B form does it indicate a long term gain and this investment was less than one year. Any idea of how Turbo Tax would come up with a long term gain on a short term investment?
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‎February 9, 2022
10:08 AM