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How can I have turbotax online treat my capital gains reported on my 1099-div correctly as long-term?

 
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3 Replies
DavidD66
Expert Alumni

How can I have turbotax online treat my capital gains reported on my 1099-div correctly as long-term?

If you have capital gain distributions reported in box 2.a of your 1099-DIV, that amount will flow to Schedule D line 13, which is the long term capital gains section.  Is TurboTax doing something different with your mutual fund capital gain distributions?  If so, please explain what is happening.  

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How can I have turbotax online treat my capital gains reported on my 1099-div correctly as long-term?

Thanks for the response DaveD. Turbotax appears to be taxing these at the short term rate. I understand that income increases can change tax brackets and have non-isolated impacts upon tax. Is box 2a for long term gains by default, and short term gains go into box 1a with dividends?

RobertB4444
Employee Tax Expert

How can I have turbotax online treat my capital gains reported on my 1099-div correctly as long-term?

Box 2a should be carried over to the long term section of your schedule D?  What makes you think that these are being taxed at the short term rate?  Where is the system entering these numbers?

 

@richardhewitt74 

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