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confusedmeghan
Returning Member

Capital gains number looks incorrect?

 
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2 Replies
confusedmeghan
Returning Member

Capital gains number looks incorrect?

When I click "how was this calculated" it just says 

This is the sum of your net short-term capital gain of $9 and your net long-term capital gain of $6,514.
 
Still not sure where the long term $6514 total comes from, more than 1K what I earned in stocks sales.
SusanY1
Expert Alumni

Capital gains number looks incorrect?

Did you have any income in the form of dividends and capital gains distributions?  (Look at form 1099-DIV or the dividend entries on your consolidated 1099 from your brokerage firm for this information.) 

If you didn't have capital gains distributions (which are capital gains passed on to you through mutual fund or other packaged investments,) or any other asset sales, revisit the entries for your stock sales to be sure that you don't have the cost and proceeds switched and/or that there isn't a typo with a missing decimal or similar.  It's fine to enter whole dollar amounts, only, rounding up for cents 0.49 and below and up for 0.50 and higher.  

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