Schedule D - Market Discount

Forum|Forum|5 years ago
March 15, 2021
1 reply
12 views

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?

Lacerte Tax

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PhoebeRoberts

Intuit Community Champion

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.

PhoebeRoberts

Intuit Community Champion

I can't reproduce this issue. My Schedule D foots with no issues when there's a market discount adjustment.

T

tmartiniAuthor

Level 2

PhoebeRoberts

Yes - the work around is to SPLIT the transaction. Listing the Wash separately from the Market Discount Adjustment computes the taxation correctly.

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