1. Home
  2. Taxes General Forum
  3. What happens with a missing capital gain?

What happens with a missing capital gain?

I usually attach a copy of the broker's statement and just enter short term gains and long term gains on the Schedule D, referring to the statement for details.

This year I am downloading all the information into the return. There are 400 transactions. H&RAH requires me to go through each one and "edit" it; but since I have no independent information, it is both pointless and incredibly boring. On one I hit "delete" rather than "edit" and had to reenter the information.

I have have done that more than the once I noticed... This year I had a capital loss, so they don't really affect my 2012 taxes, but will in the future as carry forward.

If I accidentally deleted one that had a profit on it, it would not affect anything this year, but hopefully would next year. Is this something the IRS would notice; all were reported to the IRS by the broker.

Hopefully I didn't delete any of them, and if I did, it will likely be less than $100 in one direction or another. I don't really want to spend a few more hours looking for an inadvertent deletion, but don't want to get in trouble with the IRS either.

Would the IRS pick up on an inadvertent deletion, and if they did, are there any consequences other then a couple dollars tax one way or another?

Reply to
Confused
Loading thread data ...

"Confused" wrote

Go to Schedule D and add up the gross sales in column d (long term and short term) and those should total the sales proceeds off the 1099-B's. If you're missing anything you'll notice it. Then decide if it's negligible, or if you need to chase it down.

Reply to
paulthomascpa

It seems you are importing Gainskeeper data, right? Maybe you can go back to the copy of your file before the 1099-B import, or delete all of the 1099-B and reimport everything again, but be sure to click the right button everytime. Your keyboard might have the ability to create macros (that when you press the macro key it type 'A' then tab the enter or whatever you have to). Gainskeeper data also includes

1099-DIV and other forms.
Reply to
remove ps

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.