You'll need to sign in or create an account to connect with an expert.
As an experiment I did as suggested by the office of the president suggested all last year and split trades into small amounts. My gains put on Schedule D by turbotax were off by thousands. Even more annoying is that the UI made it look like the gains being reported were the accurate, unrounded totals.
Simplest fix is to not use turbotax. If it's too late for that and you aren't comfortable with the potential scrutiny you may receive from the discrepancy, you can add a phantom trade with proceeds and cost basis set to the rounding error that you see at the bottom of the worksheet. Name the trade something about fixing turbotax's rounding bug to get the correct gains reported on Schedule D.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
NYC89
New Member
acrojudge
New Member
AndyU
New Member
ruppll
New Member
xwardestiny
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.