☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 2, 2022 12:43:44 PM

I'm using TurboTax Premier 2021 to file federal 1040 for my child. It complains about "Form 8615: ParentsNetLTGain shouldn't be less than or equal to zero." Bug?

That entry comes from my Sch. D. line 15 Net long-term capital gain or (loss), which is negative due to net loss. So it appears to be a TurboTax bug.

0 2 541
1 Best answer
Expert Alumni
Mar 2, 2022 1:29:25 PM

You are instructed to enter your long term capital gain from line 15 of schedule D. If the amount is negative, then you have a loss, not a gain. In that case, you should leave the entry blank.

2 Replies
Expert Alumni
Mar 2, 2022 1:29:25 PM

You are instructed to enter your long term capital gain from line 15 of schedule D. If the amount is negative, then you have a loss, not a gain. In that case, you should leave the entry blank.

Level 2
Mar 3, 2022 7:15:27 AM

Thanks, ThomasM125 for the answer. Perhaps the instruction should be updated to leave the field blank if line 15 of schedule D shows a capital loss...