All my stock sale proceeds are in correctly, but on the overview of my taxes capital gains shows the sum of my proceeds, not the capital gains. How do I correct that?

[CherylW · Accepted solution]

Your total capital gains will show up on Line 13 of Schedule 1, then the number is carried to Line 6, Form 1040.

The amount on Line 6 includes all of your capital gains.  If there's a difference between what's on line 6 and your net amount from stock sales, it's possible you may have had a capital gains distribution, paid in the form of a dividend.

Go through all your 1099-DIVs and see if there's not a capital gains distribution in there.

If that doesn't solve your problem, please post back to this thread.

[keri]

Thank you so much, the numbers make sense now and I agree with them. Happy to have that problem solved!

[CherylW]

Did you assign a cost to each of your stock sales?  In other words, did you fill out what the stocks were worth when you sold them?

To get back to that section:

1.  Click Federal on the left-hand side menu.

2.  Click Income across the top.

3.  Scroll down to Investment Income and click Show more.

4.  Click Start or Revisit by Stocks, Mutual Funds, Bonds, Other.

See the screenshot below to see the screen you enter it on.

If this does not fix the problem, please post back to this thread.

[keri]

Yes, a cost basis was listed for each one.  The correct capital gains number shows up in the listing of income highlighted in blue on the income page, but it’s not correct on the review of the taxes.