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February 18, 2025
Question

Turbo Tax 1099 upload shows Some 'long term' are actually ST; math on gain/loss wrong on some lines. Do I correct?

  • February 18, 2025
  • 2 replies
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    2 replies

    fanfare
    Employee
    February 18, 2025

    review your broker's statement where in fine print it will tell you what Box on Form 8949 to mark.

     

    @jcbyrd1 

    February 18, 2025

    You may correct.  As you review your sales information and brokers statements, you may correct short-term and long-term basis.

     

    • Short-term gains or losses come from the sale of investments owned one year or less.
    • Long-term gains or lossses come from the sale of investments held more than one year.

    In TurboTax Online, at the screen Let us know if any of these situations apply to this sale, select I need to correct the holding period reported on my 1099-B.

     

     

    Be advised that inherited items are always treated as long-term.

     

    @jcbyrd1 

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