topic Capital Gains Calculation in Get your taxes done using TurboTax

Capital Gains Calculation

Bill_S — Sat, 09 Apr 2022 19:32:53 GMT

I finished my federal return, no errors, and I'm now working on the state return (Maryland). TurboTax displayed a total capital gains of $18,347 and asked how much of that amount belongs to my wife. Going back to the income section, our total capital gain is $13,904. I've gone through everything and can't account for the difference. Where is TurboTax getting that $18K number?

Re: Capital Gains Calculation

FK384 — Sat, 09 Apr 2022 19:56:20 GMT

Hi Bill

Capital gains can be from the sale of stock or bonds or they can be in the form of dividends. Check for forms 1099-B and 1099 DIV. Hopefully the sum of the capital gains from these two forms equals what is on your return.

Re: Capital Gains Calculation

Bill_S — Sat, 09 Apr 2022 20:14:04 GMT

Yes, that was it. Capital gains distribution included with a 1099-B. Thanks!