No 50% reduction of capital gains was calculated . Problem

[TurboTax-Terry · Accepted solution]

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 

[h-hoogeveen]

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

[TurboTax-Terry]

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

[h-hoogeveen]

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]

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]

An informative answer. Thank you.