Turbotax is asking “I have a net capital gain or loss from the exchange of legal tender” under the income adjustments for my state tax? What does this mean?

[Thomas762]

why won't the box uncheck? state tax, any income adjustments?,  I have net capitol gain or loss from the exchange of leagal tenderbox won't uncheck

[JotikaT2]

It would be helpful to have a TurboTax ".tax2019" file that is experiencing this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

1. Go to the black panel on the left side of your program and select Tax Tools. 
2. Then select Tools below Tax Tools. 
3. A window will pop up which says Tools Center.  
4. On this screen, select Share my file with Agent. 
5. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
6. Reply to this thread with your Token number.  ​​

This will allow us to open a copy of your return without seeing any personal information. 

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution. 

[gcwhitten]

This is a guess, but I suspect you traded currencies (legal tender).  If you 'bought cash' when you travelled internationally, and then 'sold cash' when you returned, it is possible that the exchange rate changed during the process.  If so, then you may have had a 'gain' or a 'loss' because of the market change.  Suppose you bought 100 Canadian dollars when the exchange rate was 1.20Can to 1.00 US.  It cost you you 80 US.  You returned later and bought US dollars when the exchange rate changed to 1.10Can to 1.00 US.  You would get $90 upon your return.  You had a gain of $10 because of the exchange rate change.  Someone is taxing that gain.

[carriem]

I am having the same problem.  Token # 967349

I cannot uncheck the box "I have a net capital gain or loss from the exchange of legal tender"

[CarissaM]

You are responding to a thread from 2 years ago. Please follow the instructions here to contact us by phone so we can better assist you. @carriem

[carriem]

I contacted Turbo tax by phone and spoke to Charles Fowler for an hour.  He could not help