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sonia-yu
New Member

My capital gains is not included in my form 8960 by turbotax, how can i edit it to accurately calculate my net investment income tax

 
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3 Replies
rjs
Level 15
Level 15

My capital gains is not included in my form 8960 by turbotax, how can i edit it to accurately calculate my net investment income tax

You can't just edit Form 8960. Almost everything on Form 8960 comes from somewhere else.


Let's start by clarifying precisely what you mean by "My capital gains is not included in my form 8960." Are you saying that you do have Form 8960 in your tax return, but it does not include your capital gain?


Is there an amount (other than zero) on your Form 1040 line 7? If not, what capital gain do you have that you think should be included on Form 8960?


If you do have an amount on Form 1040 line 7, does the amount from Form 1040 line 7 appear on Form 8960 line 5a? If so, then your capital gain is included. Why do you say it's not included?


If the amount from Form 1040 line 7 is not on Form 8960 line 5a, what is on Form 8960 lines 5a, 5b, 5c, and 5d?


I assume that you are using the desktop TurboTax software. Is that correct? Make sure three are no overrides anywhere in your tax return. An override can cause the TurboTax calculations to break in unexpected ways, even if the override is in a place that you think has nothing to do with the problem. Occasionally people create an override accidentally by pressing Ctrl-D without realizing it. If an entry has been overridden, the value will be displayed in red instead of black in forms mode.

 

sonia-yu
New Member

My capital gains is not included in my form 8960 by turbotax, how can i edit it to accurately calculate my net investment income tax

Thanks for this. Sorry it’s actually line 6 in form 8960 that I need to update. I need to calculate my net inv income tax but turbo tax doesn’t know how to include my income from 8621

thanks!

rjs
Level 15
Level 15

My capital gains is not included in my form 8960 by turbotax, how can i edit it to accurately calculate my net investment income tax

You didn't say whether you are using TurboTax Online or the desktop TurboTax software. If you are using the desktop software, you can go to forms mode, open Form 8960, click on the space for the amount on line 6, and enter an amount. This is one of the few things that you can enter directly on Form 8960. In TurboTax Online there is no way to make the entry, because there is no forms mode in TurboTax Online.

 

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