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to1320
New Member

1099-B capital loss does not match Turbotax calculation

After entering the LT capital loss amount from my 1099-B statement which is $6545, Turbo tax calculates my LT capital loss amount as $4394.  I am not carrying over any capital loss from prior years.  

What am I doing incorrectly?

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1 Reply
MaryK4
Employee Tax Expert

1099-B capital loss does not match Turbotax calculation

If you had short term capital gains in the current year, they will be offset by long term capital gains first, then the long term loss allowed of $3,000 for the current year will be calculated to determine the carry forward.   

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