Amended return for a change in stock cost basis is causing changes in the 1040


M

Maryland

My dad is working on an amended return for 2012 because he understated the
cost basis for some stock sales and has an overstated capital gain. He is
using a report function in Quicken. When he made the changes, he expected to
see a change just related to the capital gains and AGI by the same amount, but
most of the other line items on the 1040 changed by small and seemingly random
amounts. Does anyone know why?

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M

Mark Bole

My dad is working on an amended return for 2012 because he understated the
cost basis for some stock sales and has an overstated capital gain. He is
using a report function in Quicken. When he made the changes, he
expected to
see a change just related to the capital gains and AGI by the same
amount, but
most of the other line items on the 1040 changed by small and seemingly
random
amounts. Does anyone know why?
Please be more specific. Which line items on the 1040 changed? Last
time I looked there are sixty or seventy of them. Even an example of
just one line that changed would be something we could actually try to
answer.

You also need to provide an approximate value for AGI and the filing
status, so that the effect of various AGI phase-outs can be estimated.
 

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