Question

Bug in Form 8960 - line 5b value from worksheet not carried over correctly

Forum|Forum|2 years ago
March 5, 2024
2 replies
0 views

In the worksheet for Form 8960, I have a -12,772 loss (negative value) for line 5b.

However, on Form 8960, it shows as a gain (positive value), so it is added to total investment income instead of subtracting. This causes the total investment income to be higher by (2 x 12,772)

The only way to correct this is by overriding the value, which I do not want when it comes time to file. Could you please fix ASAP? Thank you!

TurboTax Home & Biz Windows

AmyC

Employee

I am trying to reproduce your issue. What form is the figure coming from? The 8960 is not the problem, so where is it? Can you clarify the problem- flow?

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J

jenlan123Author

Hello AmyC,

Did I provide enough info for you to reproduce the issue?

Just checking on the status of this.

Thanks!

J

jenlan123Author

Thanks for looking into this.

The loss originally comes from line 9 of Schedule K-1 for S-Corp, "net section 1231 gain (loss)" which gets entered into line 7 of K-1 S Corp on TurboTax Home/Bus