No 50% reduction of capital gains was calculated . Problem

h-hoogeveen · ‎October 30, 2019

TurboTax-Terry · ‎October 30, 2019

The Net Capital Gain is reported on Line 127 of the tax return. Review the detailed federal tax summary for the correct income inclusion.

DETAILED SUMMARY

You can find a detailed summary of your tax return under the "Review" tab > "Bottom Line (tax summaries)"> then look for the paper and magnifying glass icon in the lower left hand corner, select "Detailed Tax Summary". You will have a line by line sample of the Federal Tax

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TurboTax-Terry · ‎October 30, 2019

The Net Capital Gain is reported on Line 127 of the tax return. Review the detailed federal tax summary for the correct income inclusion.

DETAILED SUMMARY

You can find a detailed summary of your tax return under the "Review" tab > "Bottom Line (tax summaries)"> then look for the paper and magnifying glass icon in the lower left hand corner, select "Detailed Tax Summary". You will have a line by line sample of the Federal Tax

View solution in original post

h-hoogeveen · ‎October 30, 2019

When I examined the detail summary I noticed that the taxable capital gains had not been reduced by 50 %

TurboTax-Terry · ‎October 30, 2019

Have you entered the information twice perhaps. Once for yourself and again for a spouse?

h-hoogeveen · ‎October 30, 2019

Thank you for this. Entered T5008 and filled in capital gains profile. Have removed capital gains profile. Why is this there? Problem solved.

TurboTax-Terry · ‎October 30, 2019

Investment transactions can be reported in multiple formats depending on the nature of the transaction, stock versus real estate and if the transaction went through a broker or self administered by the taxpayer.

h-hoogeveen · ‎October 30, 2019

An informative answer. Thank you.

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No 50% reduction of capital gains was calculated . Problem