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D
dnj333
April 17, 2020
Solved

Why is a stock I sold at a loss being reported as a gain?

  • April 17, 2020
  • 1 reply
  • 0 views
Stock sale proceeds $56,202.51
Stock basis                    59,921.24
   Loss                                (3,718.73)
But this transaction is being reported in  my tax return schedule as a gain of the same amount. Why?
Best answer by Anonymous_

Check your figures and the columns. It appears as if the two dollar amounts were transposed.

1 reply

A
Anonymous_
Employee
April 17, 2020

Make absolutely sure that you do not have an input error, such as entering the transaction backwards (i.e., entering sales proceeds as basis).

    D
    dnj333Author
    April 17, 2020

    The values bring used were downloaded via computer off my 1099B from my broker. My 1099B shows the transaction as a loss. But 

    TurboTax program is showing it as a gain. Why

    A
    Anonymous_Answer
    Employee
    April 17, 2020

    Check your figures and the columns. It appears as if the two dollar amounts were transposed.

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