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Are capital gains being double counted? They appear to be double counted. I have capital gains in 1099-DIV 2a that also seem to be added back in on Schedule D, Line 13.

 
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4 Replies
MinhT1
Expert Alumni

Are capital gains being double counted? They appear to be double counted. I have capital gains in 1099-DIV 2a that also seem to be added back in on Schedule D, Line 13.

No. They are not double counted. Long term capital gain distributions in box 2a of form 1099-DIV are ONLY transferred to Schedule D, and nowhere else.

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Are capital gains being double counted? They appear to be double counted. I have capital gains in 1099-DIV 2a that also seem to be added back in on Schedule D, Line 13.

In my return, the same dollars included in Schedule D, Line 13 also appear be brought in Schedule D, lines 1b and 8b

MinhT1
Expert Alumni

Are capital gains being double counted? They appear to be double counted. I have capital gains in 1099-DIV 2a that also seem to be added back in on Schedule D, Line 13.

Lines 1b and 8b should only include capital gain/loss from transactions reported on forms 1099-B.

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Are capital gains being double counted? They appear to be double counted. I have capital gains in 1099-DIV 2a that also seem to be added back in on Schedule D, Line 13.

Yes, those lines tie to 1099-B. However, those same dollars also seem to be counted in Schedule D, Line 13 (which is the amount from 1099-DIV, Line 2a).

 

So, on my form 1040 it looks like I have dividend income also being counted as capital gains (1040 line 3b and line 7).

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