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.