Should I fill out Form 2439?

Forum|Forum|5 years ago
February 24, 2021
2 replies
10 views

I do not think this form applies to me but TurboTax will not let me continue without providing RIC or REIT info.

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RayW7

Level 12

Yes, you should complete this form-

What is Form 2439? Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains is the form required to be issued by regulated investment companies (RICs) and real estate investment trusts (REITs) when there have been undistributed long-term capital gains.

If you have received a Form 2439 and there was tax paid by the RIC or REIT (see box 2) then you may be due a refund. This is true even if your investment is held in your IRA. Individuals who have already filed their tax returns can file an amendment using Form 1040X. For investments held in an IRA, Form 990-T can be filed.

Undistributed capital gains. If your mutual fund sends you a Form 2439: Notice to Shareholder of Undistributed Long-Term Capital Gains increase your basis by the amount of undistributed capital gain that you include in income and reduce your basis by the amount of tax paid by the fund on the undistributed gain (both amounts are reported to you on Form 2439). Finally, don’t forget to claim a tax credit on your 2020 Form 1040 for the amount of tax paid by the fund in 2020.

IRS Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains

Lexie-Thurston

Level 2

I have no Form 2439 to fill out. But, TurboTax will not let me continue even after I state that I have no Form2439. Instead, the program sends me back to the beginning of the previous section. It is not letting me move ahead.

MarilynG

Level 15

You may need to delete Form 8885 from your return.

Click this link for instructions for Form 2439 Error.

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njpaterson

Level 2

cant get around asking for 2439 but did not get on

ThomasM125

Level 15

@njpaterson The form 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains Worksheet would flow from a form 1099-MISC or K-1 schedule entry most likely. You need to look through the attachments to those forms to see if there is any information that you didn't include in your entry.

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