Turbo-tax is not allowing me to use my long-term capital loss to entirely offset my long term capital gain distribution. Is this an error?

Forum|Forum|3 years ago
March 11, 2023
1 reply
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The loss is larger than the distribution

TurboTax Premier Online

JulieS

Yes, it should offset your long term capital gain distribution. We would like to take a closer look at this.

Could you send a sanitized version of your tax file to us for review? All of your personal information would be concealed, we would only be able to see the figures that you entered in TurboTax.

To do that:

Open your return, scroll down to Tax Tools on the bottom of the left side menu.
Select Tools.
Click on Share my file with agent at the bottom of the screen.
Click OK to create the diagnostic file.
Please make note of the token number.
Respond back to this thread with the token number and we will have an agent look into the issue.

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Marj9Author

Hi Julie, thanks for your reply. I had downloaded by broker information into TurboTax, but on further inspection, it did not download properly. So, I deleted all the information that was downloaded, and downloaded the 1099 again. After the 2nd time, everything calculated properly and the loss offset the cap gain distribution.