I entered a short term stock sale in my federal taxes and it flowed to my state taxes as a long term sale. I can't get it corrected. How can I do that?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
wes451
New Member

I entered a short term stock sale in my federal taxes and it flowed to my state taxes as a long term sale. I can't get it corrected. How can I do that?

 
3 Replies
TomYoung
Level 13

I entered a short term stock sale in my federal taxes and it flowed to my state taxes as a long term sale. I can't get it corrected. How can I do that?

Have you confirmed what you're reporting by actually looking at the Forms/Schedules/Worksheets that comprise your income tax returns?  This seems like a pretty elementary error unless there's different rules between federal and your state definitions of short term and long term.
fanfare
Level 15

I entered a short term stock sale in my federal taxes and it flowed to my state taxes as a long term sale. I can't get it corrected. How can I do that?

make sure your holding period is a year or less.

If your stock is "Inherited" it is always treated as Long Term.

fanfare
Level 15

I entered a short term stock sale in my federal taxes and it flowed to my state taxes as a long term sale. I can't get it corrected. How can I do that?

delete that transaction and re-enter it.

Dynamic AdsDynamic Ads
v
Privacy Settings