What does "Enter any gain from your 2003 Schedule D, line 16" mean?

Question

What does "Enter any gain from your 2003 Schedule D, line

16" mean? Meaning 1: Just enter the value from 2003 Schedule D, line

If line16 is a positive number enter a positive number; if line 16 is a negative number enter a negative number. Meaning 2: Enter the value from 2003 Schedule D, line 16 if it is a positive number. If line16 is a positive number enter a positive number; if line 16 is a negative number enter zero or leave blank. I think Meaning 1 is correct, but want to check.

After all, if they wanted Meaning 1, then they could have just said "Enter the amount from your 2003 Schedule D, line

16". Thanks.

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Wayne Brasch · Accepted Answer

If it says "Enter any gain...", how can there be a negativenumber?  A gain is always positive. Wayne Brasch, CPA, M. S. Taxation

ed · Answer

Logic would indicate that if they want you to enter yourgain from line 16 you shouldn't enter you  loss from line16, just gain. ed

Herb Smith · Answer

Meaning 2 - positive number (gain) or NOTHING.

D. Stussy · Answer

As line 16 cannot have a negative number in it, what's thedifference?

Phil Marti · Answer

Since the gummint ran Miss Cleo out of business, some context would have helped, but I'm going to take a wild stab that you're doing the capital loss carryover worksheet. If not, please tell us what you're doing. On line 6 of the worksheet you're working toward allocating your carryover between short-term and long-term. If line 16 of your 2003 Schedule D was a gain, enter that amount. Otherwise, leave it blank. Note that you'll deal with a loss on line 16 after line 8 of the worksheet.

-- Phil Marti Clarksburg, MD

What does "Enter any gain from your 2003 Schedule D, line 16" mean?

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