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I have total Capital Loss of $565.00, but TurboTax states capital gain of $15. Does not make sense, since $565 Capital Loss is based on TurboTax calculation. Help!

TurboTax Calculation of my 1099-B states Net $565 Capital Loss. TurboTax on the next page says I have $15 in Capital Gains. This does not make sense. Can you please help me figure what is wrong here?
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2 Replies

I have total Capital Loss of $565.00, but TurboTax states capital gain of $15. Does not make sense, since $565 Capital Loss is based on TurboTax calculation. Help!

 If a net long-term capital gain is more than a net short-term capital loss, it's a net capital gain.  Do you have a $580 long term gain, and a $565 short term loss?

Hal_Al
Level 15

I have total Capital Loss of $565.00, but TurboTax states capital gain of $15. Does not make sense, since $565 Capital Loss is based on TurboTax calculation. Help!

Look at the details on form 8949 and schedule D.

One possibility is an off setting capital gains distribution (from a form 1099-Div) on line 13 of Schedule D

 

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