Can someone help me understand (proceeds, cost basis, adjustment and gain/loss) amounts for my stock taxes? My gain/loss in turbotax is not the same as my 1099.

[ThomasM125]

When you report the sale of stock, you have a gain or loss equal to the difference between the sale proceeds and the cost of the stock. If you held the stock for more than one year, the gain or loss is a capital gain, otherwise it would be short term, which means the capital gain tax rates would not apply.

If you imported your form 1099-B, sometimes the numbers do not process correctly, so you have to compare the detail of your 1099 transactions with what is on your tax return to make sure everything matches. That may be why your 1099 form numbers do not agree with what is shown in TurboTax.

[fanfare]

those terms have the same meaning as in every day language.

It is TurboTax that has the bugs and other issues.

Try a different tax software program.