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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.
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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.

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