turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

air2dmw
Returning Member

Why doesn't TurboTax Premier tax same amount of capital gains in Kentucky and Georgia?

Reference 2023 TurboTax Premier Version xxx.xxx.xxxx, Components Version 2023.47.20.44

Kentucky Form 740, line 5, includes capital gains from Federal 1040-SR line 7, and can’t be removed without affecting the Federal 1040-SR Form.  

If Capital Gains Earned in Georgia is reported as Other Income on Form 500, line 7, there is no corresponding subtraction adjustment transferred to Kentucky Schedule M,   therefore causing double taxation of same amount in Kentucky and Georgia.  If Kentucky schedule M, line 14 is overridden the returns will not be accepted for E-file. 

When will TurboTax be updated to fix this problem?
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
jtax
Level 10

Why doesn't TurboTax Premier tax same amount of capital gains in Kentucky and Georgia?

It would be helpful to know more. Which state or state were you a resident of during 2023? Are any of the capital gains from KY or GA sources (e.g. rental properties physically in the state).

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies