I just finished filing my taxes for this year, I had a HUGE capital loss from stock sales but I also had a large capital gain from my company purchasing some of the incentive stock options that I had exercised in a prior year. The loss was still much larger than the gain however. TurboTax calculated me owing a huge amount in taxes as soon as I entered the ISO sale. Shouldn't my capital loss offset this capital gain?
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Did you get hit with an AMT tax ? Did the loss carryover get reported correctly ?
Review the entire return carefully :
You can peek at only the form 1040 & state summary page by going here:
Click on Tax Tools >>>Tools >>>Click on View Tax Summary >>>Click on Preview my 1040
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To pay the TurboTax online account fees by credit card, without completing the 2017 return at this time, click on Tools … Then click on Print Center. Then click on Print, save or preview this year's return. On the next page, to pay by credit card, click Continue. On the next screen it will ask if you want Audit Defense, if you do not want this option just click on the Continue button. The next screen will ask for all your credit card information so you can pay for the account.
ISO info :
https://turbotax.intuit.com/tax-tips/investments-and-taxes/incentive-stock-options/L4azWgfwy
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