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Home sale worksheet has a gain that is correct but that is not the amount showing on Form 8949. It brings in the gain without the selling expenses deducted. Why?

That is not what Turbotax is doing on mine.  It shows the adjustment as just the gain portion that is excluded without taking into account any of the selling expenses. 

Your example is showing a taxable gain. 

I don't have a taxable gain.  

Home sale worksheet has a gain that is correct but that is not the amount showing on Form 8949. It brings in the gain without the selling expenses deducted. Why?

Yes, this is the sale of my principal residence and the gain is not taxable.  I am not going to worry about this anymore.  Thanks for all the help. 

Home sale worksheet has a gain that is correct but that is not the amount showing on Form 8949. It brings in the gain without the selling expenses deducted. Why?


@SuperAcct wrote:

Yes, this is the sale of my principal residence and the gain is not taxable.  I am not going to worry about this anymore.  Thanks for all the help. 


You do not have to be concerned with the presentation in TurboTax in that case; TurboTax is handling the transaction properly.

 

You are most welcome.

Home sale worksheet has a gain that is correct but that is not the amount showing on Form 8949. It brings in the gain without the selling expenses deducted. Why?

form 8949

In column (g), enter $220,000 ($20,000 selling expenses + $200,000 exclusion) as a negative number. 
In column (h), enter -0- ($320,000 − $100,000 − $220,000). If this is your only transaction

 

this is exactly what I get. $320K sales price in column d, $100K as cost in column e, and a negative $220K in column g which consists of the $20K selling expenses and a $200K exclusion to reduce the taxable gain to zero


on this Part II, enter $320,000 in column (d) on line 10 of Schedule D (Form 1040), $100,000 in column (e), ($220,000) in column (g), and -0- in column (h).

 

this is exactly what is supposed to appear on schedule D 

column d - $320K  from column d on form 8949

column e - $100K from column e on form 8949

column g  - $220 K from column g on form 8949

column h - $0

 

i really don't understand the problem you are having 

 

 

perhaps if you provide an example of the amounts showing in those 4 columns and what you think should be showing in those 4 columns we could better answer your question. however, it seems Turbotax is reporting it as the IRS requests. 

 

Home sale worksheet has a gain that is correct but that is not the amount showing on Form 8949. It brings in the gain without the selling expenses deducted. Why?


@Mike9241 wrote:

i really don't understand the problem you are having 


There must be an input error if Form 8949 does not appear as it does in the screenshots I posted.

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