Q. The instructions attached to statement state if capital gain distribution and no amounts in boxes 2b, 2c, 2d, and 2f that I may be able to report amount on form 1040. Can you provide more information?
A. That happens automatically in TurboTax. Instead of complicated attachment forms (8949 and Schedule D), the capital gain distribution goes directly to line 7 of form 1040. It is still taxed at long term capital gains tax rates (15% for most people but could be 0% if your income is low enough). The tax calculation is shown on the "Qualified Dividends and Capital Gains Worksheet" (abbreviated "Qual Div/Cap Gn" on the forms list).
