The Market discount adjustment is appearing on Schedule D, Line 1b and flowing across the form correctly in the line total. The Market discount adjustment flows to the Schedule B correctly. However the Market discount is NOT flowing down to Line 7 of the Schedule D. The Market discount is omitted in the Capital Gain/Loss total. It appears the program is DOUBLE posting the Market discount adjustment to the tax file.
Has this issue been brought to Inuit's attention? Is there a fix scheduled? Has anyone found a work around in the interim?
This discussion has been locked. No new contributions can be made. You may start a new discussion here
It seemed to be working fine for me this afternoon. My return that had it has an enormous number of non-covered transactions, so I was mostly checking that my Schedule D totals were right. I'll take another look tomorrow.
I can't reproduce this issue. My Schedule D foots with no issues when there's a market discount adjustment.
PhoebeRoberts
Yes - the work around is to SPLIT the transaction. Listing the Wash separately from the Market Discount Adjustment computes the taxation correctly.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.