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Doug106
Returning Member

Incorrect capital gains and losses entered by turbotax

Turbotax incorrectly entered 2000+ in capital gains.  Can the entry be over ridden?

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4 Replies

Incorrect capital gains and losses entered by turbotax

you need to go back to that section and update the numbers. If you override directly in a form you will not be able to e-file. 

alicante13
Returning Member

Incorrect capital gains and losses entered by turbotax

The capital loss based on 1099-B data is $8141. TT calculates it to be $6952, with $3000 taken this year and a carryover of $3952. The correct carryover is $5143. 

 

JamesG1
Expert Alumni

Incorrect capital gains and losses entered by turbotax

Do you have additional IRS form 1099-B information to enter?  Or do the IRS form 1099-B entries that have been entered do not reflect the correct amounts?

 

Are there basis adjustments that need to be made to certain investments?  Please clarify.

 

@alicante13 

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Doug106
Returning Member

Incorrect capital gains and losses entered by turbotax

Thanks.  Issue resolved.

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