Uploaded all crypto currency sells for 2022 with dates purchased and sold. All were sold in under a year but TurboTax shows all as long term. Is there a way to update?

Forum|Forum|3 years ago
January 20, 2023
2 replies
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I believe all should be classified as short term but Turbo Tax has somehow not considered the dates of purchase and sale.

TurboTax Premier Online

Anonymous_

Employee

Check back later. I will page @Mike9241 for this.

JohnB5677

I posted some short-term capital gains to see what would happen.

You will get to a screen Your capital gains so far.
At the bottom of the screen there is a green block [See my capital gain]
The bottom item is How was my capital gain of $XXX calculated?
If this indicates that it is all Long-term, I suggest you double check the dates you posted.

If you still have this concern after confirming your entries, please contact us again and provide any additional details.

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listerhargreavesAuthor

Employee

Thanks! I double checked the "How is my loss calculated" section and it again says this information comes from "my net long term capital loss".

I have a lot of transaction but each one represents a hold of under a year. Each one on the summary page says "Long term (Box F)". I tried to manually over key the data from the import for a couple of transactions to re-enter the purchase and sale dates, but even so the Sales Section column still says "Long Term"

Mike9241

@listerhargreaves I have found that if you import security transactions, you can not override them.

the problem is the code F - no 1099-B was sent to the iRS. the code must be C to get short-term treatment. this is a Turbotax bug because if you enter short-term dates but use code F they pop out as long-term without being flagged as inconsistent. where is that code F coming from?