How to back out of a capital gain transaction that was created to calculate payment needed for extension.
In order to pay estimated tax with the extension we filed for a 2025 1040 return, I entered what I knew to be the likely numbers in the actual transaction that resulted in the gain.
Now that we finally have the K-1, I need to enter the actual numbers. What I’m finding is that every instance of those numbers I entered in April is in a calculated field. The only way to remove the number I entered is to override and that creates an error warning about e-filing.
I can’t seem to find the original entry that I made which would be in a field that can just be emptied. Is that not correct? Where could it be? I’ve looked at 8949s, Sched D, Cap Gain/loss worksheets...
Either way, I can’t seem to get there. I hope I’m not as dumb as I feel right now. I’m tempted to just zero out the whole return and start over but there’s a lot to re-enter, including stock sales.
Thanks in advance!
