My summary income statement shows $17K of capital gains and losses, but the input was $5K. Why?

a-bardin — Mon, 03 Jun 2019 19:02:18 GMT

Did you have a carryover from 2017?

SweetieJean — Mon, 03 Jun 2019 19:02:19 GMT

Did you have a carryover from 2017?

no

a-bardin — Mon, 03 Jun 2019 19:02:23 GMT

I expect that the issue is that you see that you are repo...

TomYoung — Mon, 03 Jun 2019 19:02:24 GMT

I expect that the issue is that you see that you are reporting in your income tax return $17K of net capital gains, but your own input of security sales only amounted to a gain of $5K.

Understand the capital gains included in your income tax return can originate outside of your own trading activity. The most common place these "other" capital gains come from are from 1099-DIVs, (e.g., mutual fund distributions) and Schedule K-1s. Go and look at your actual Schedule D where capital gains from all sources are compiled. That will clear this up.

Tom Young

topic no in Get your taxes done using TurboTax

My summary income statement shows $17K of capital gains and losses, but the input was $5K. Why?

Did you have a carryover from 2017?

no

I expect that the issue is that you see that you are repo...