Turbo Tax Deluxe for Mutual Funds

Forum|Forum|1 year ago
January 3, 2025
6 replies
46 views

will turbo tax deluxe download version handle mutual fund dividends, capital gains and IRA distributions?

xmasbaby0

Level 15

Every version of the desktop download software has all the forms and all the schedules; you just get more help in the higher versions. So, yes, you can use Deluxe for anything that you mentioned. Be aware that financial institutions usually do not have your information available for importing to tax software until mid to late February.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

zippo565

Level 2

The program may have it, but no display when in the program where to input this data, or I can't find it use it. Does anyone know how to input it?

DoninGA

Level 15

@zippo565

To report dividend income received -

Click on Federal Taxes (Personal using Home & Business)
Click on Wages and Income (Personal Income using Home & Business)
Click on I'll choose what I work on
Under Interest and Dividends
On Dividends on 1099-DIV, click on the start or update button

To enter an investment sale -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button