topic Capital gains duplication in Get your taxes done using TurboTax

Capital gains duplication

KevBeh2 — Tue, 10 Mar 2026 07:04:48 GMT

Schedule D Capitol gains duplication.

On line 10 of schedule D TurboTax calculates what the LTCG is for the property sales, which comes from form 8949. On line 11A it entered in the information from box 10 of the K-1 that I received from this same property sale. Then the form added these two numbers together, which almost doubled my capital gains for these sales. This resulted in a 9600.00 over payment of taxes on these property sales. Why is this doing this and how do I correct it?

Re: Capital gains duplication

Anonymous_ — Wed, 16 Nov 2022 15:08:30 GMT

@Mike9241

Re: Capital gains duplication

Mike9241 — Wed, 16 Nov 2022 21:46:08 GMT

if you received a K-1 that reported the property sale, why are you separately reporting in on schedule D/8949.

you would not have receives a 1099-B for the sale since it wasn't you selling. however, if you sold the partnership/S-corp interest that's a separate reportable event but to correctly report it you need to know your tax basis which might not be properly reflected on the 1099-B. i can give you almost an absolute guarantee that if you sold your interest in a PTP (marked on the k-1 1065), the 1099-B does not reflect the correct tax basis. you should have gotten a supplemental schedule with the K-1 to calculate your tax basis