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Capital Gains and Losses
Why isn't Turbo Tax deducting short term losses from long term gains?
Why do you think TurboTax is not deducting short term losses from long term gains?
Check Schedule D Capital Gains and Losses on your return.
- Select Form mode from the top right corner.
- Select Schedule D from the left under Forms on my return.
Short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. Net losses of either type can then be deducted against the other kind of gain.
For more information, check: Capital Gains and Losses
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