Question

Sale of stock reported on 1099-B is entered twice

Forum|Forum|5 years ago
April 5, 2021
1 reply
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One of my 1099-B forms from Vanguard reported sales of a stock. When entered into Turbo Tax, the sale, and also the capital gain, was report TWICE on the form 8949 - resulting in a doubling of my capital gains tax for that particular stock. Yikes! How can I correct this?

KathrynG3

Return to the original entry in TurboTax and delete the duplicate entry.

To do this in TurboTax, follow these steps:

Go to the search box and enter investment sales.
Select the Jump to link in the search results.
Scroll down to the end of Your investment sales summary and in the lower left corner, select Add more sales.

For more information, see:

A Guide to the Capital Gains Tax Rate: Short-term vs. Long-term Capital Gains Taxes - TurboTax Tax Tips & Videos