Capital Gains and Losses
Questions and comments about tax rules for buying and selling stocks, mutual funds, real estate and other assets.
Form 8949 confusion
Posted by: statsguy, February 24, 2017 07:50PM
My 2016 Tax Reporting Statement from Fidelity gives the following for a particular stock that I sold last year

(1) short-term gain not reported to IRS - $213.58

(2) short-term loss not reported to IRS - -$17.21

(3) long-term gain not reported to IRS - $1890.30

(4) long-term loss not reported to IRS - -$2465.24

Adding the four together I get a total loss of -$378.57

My records from Quicken (I have faithfully entered every dividend, return of capital, transaction and believe the Quicken numbers are correct) give me a total loss of -$1578.04. I haven't yet determined what part of this total loss is long term and short term. I assumed the two losses would be identical but checked anyway.

I am using Turbo tax. If I put my numbers in Turbo Tax when I fill in form 8949, will that cause problems with the IRS when the numbers don't match the Fidelity statement?

Suggestions?

Stats

Re: Form 8949 confusion
Posted by: Art, February 24, 2017 07:56PM
Are all these figures from form 1099-B?


If some include amounts from form 1099-DIV, please break down the amounts by form.


Aside: I believe Fidelity is adding confusion by breaking apart gains from losses.

Re: Form 8949 confusion
Posted by: statsguy, February 24, 2017 08:52PM
Sorry for the earlier post. I figured out the problem.



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