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Investors & landlords
It is not clear what needs to be reported. For example, as noted in a prior post, if your 1099-DIV only contains a cash liquidation distribution (box 9), then that amount just reduces your cost basis. There is nothing to report on your tax return, but you will want to keep your 1099-DIV in the event you decide to sell your REIT because you will need to make an adjustment to basis. However, there may be a situation where you will need to report a capital gain. In this regard, if the cash liquidation distribution is greater than your basis such that your basis is reduced to zero, then the excess cash liquidation distribution becomes a capital gain and is reported as such in TurboTax. Did you sell any part of your REIT in 2022?
If you received a dividend from the REIT in addition to the amount in box 9, then that dividend is entered by going to Interest and Dividends and then selecting Dividends on 1099-DIV.
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