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February 28, 2023
Question

After filling 1099-B, the loss is $15,400, however the max loss shown in summary is $2998, not $3k per IRS. Is this a bug calculation or expect i manually fix worksheet?

  • February 28, 2023
  • 1 reply
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1 reply

JohnB5677
February 28, 2023

That does sound unusual.  Was there some other capital gain of $12,000 or so that could have been used as an offset?

Please check your tax return and see what is posted to line 7.

 

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Line 7 - Capital Gain or (Loss)

 

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Shri42Author
March 1, 2023

Thanks JohnB5677.

There is a short term capital gain of 535. Going line by line it does not make sense why deduction showed $2998.

I started a new returned from beginning[time consuming] and now TT correctly shows $3000 capital loss deduction.