Bizarre results when entering capital gain from stock sale (1099B).
Gain of $500.
Fed tax impact was about $90…makes sense.
NY Tax impact was well over the $500 taxable gain? How is that possible?
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I would like to take a deeper look at this. However, I need a diagnostic file, which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:”
TurboTax Online:
TurboTax Desktop/Download Versions:
Click here for information regarding capital gains short and long-term.
This appears to be correct after all, so nevermind. The NY Tax tables have some non-linear jumps when your AGI crosses certain boundaries. And that appears to be what is happening here.
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