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Long-term Loss was adjusted to zero. Out of list of possible reasons, none apply.

Turbotax Home & Business (download version) reported my long-term loss and then happily adjusted it to zero (0) without giving any reason. It's called "Net adjustments to loss".

 

The program then tries to explain:

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There are a number of adjustments that may affect the capital gain or loss reported on your tax return.

Examples include:
- Nondeductible loss from a wash sale
- Selling expenses not reported in Box 1d or Box 1e of Form 1099-B
- Changes you make to basis because you disagree with the basis reported to the IRS.
- Compensation already included in income.
- Section 1202 exclusion of gain from Qualified Small Business stock.
- Nondeductible loss from sale of a second home.
- Nondeductible loss from sale of personal use property.
- Rollover of gain from Section 1042, 1044, 1045.
- Other exclusions and nondeductible losses.

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but it never gives a concrete reason for doing what it's doing.

 

Can anyone help me to resolve this conundrum?

 

Thank you.

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1 Reply

Long-term Loss was adjusted to zero. Out of list of possible reasons, none apply.

Issue resolved by choosing (under "type of investment you sold") "Everything else" instead of "Personal Items". Definitely not user friendly in my opinion.

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