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New Member
posted Mar 29, 2025 12:11:00 PM

TurboTax Capital Losses Calculation Doesn't Match 1099-B

I have only one 1099-B, and it was imported from my brokerage.  The 1099-B has a

$67.83

total short-term capital gain and a

$1,551.51

total long-term capital loss, which correctly shows as a

$1,483.68

total loss in TurboTax on the investment income page.  However, on the "Here's a breakdown of your capital losses" page, TurboTax comes up with

$1,448

in total losses using a short-term capital gain of

$68

and a long-term capital loss of

$1,516

.  The "explain why" wasn't helpful since it doesn't show where the software is getting the values.

 

How/where is TurboTax getting the

$1,516

loss?  Why doesn't it match the 1099-B values?  I've looked at the forms and can't figure out what's wrong.  How do I fix this?

0 1 1064
1 Replies
Expert Alumni
Apr 3, 2025 9:42:14 AM

We can't see your forms to know if there are wash sales or other adjustments. Take a look at your 1099-B and see what other lines have numbers in them.