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March 4, 2025
Question

Capital losses offseting mutual fund distribution

  • March 4, 2025
  • 1 reply
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For Pennsylvania tax return, how to use TurboTax to offset losses from stock trading reported in 1099-B from mutual fund distribution (classified as long-term capital gains) reported in 1099-DIV?

    1 reply

    March 5, 2025

    You cannot offset capital gains distributions from mutual funds with losses from the sale of stocks.  According to the Pennsylvania Income Tax Guide, 

     

    "Capital gain distributions received from mutual funds or other regulated investment companies are taxable as dividends. Refer to PA Personal Income Tax Guide - Dividends, for additional information." 

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