Did you have a lot of capital gain distributions from say mutual funds?
Do you have a Sch K-1 from a partnership or S Corp?
Those may have capital gains in them....error in entry input?
Capital gains can also be reported on Form 1099-DIV.
Review this form. If there are any capital gains, they would be reported in Box 2a of your 1099-DIV. This would generate the capital gains form.
Also, if you have any capital loss carry forward amounts from prior years, this would also generate the form.
Thanks for responding, however:
I have no capital gains, and no loss carried forward. A CPA relative looked it over and couldn't figure out why TT produced the cap. gains form.
Not sure what to do, as Fed form won't email because of this, and if that doesn't email, neither does the NY state form.
Content of DIV form:
1a: Total ordinary dividends…$7,253.
1b: Ordinary dividend …$7. 144
2a: total capital gains…$0.00
Does this help in making sense? If not, please tell me how I can override TT error messages and email my Fed form, as I can only submit my NY State form by email, and it won't send unless the IRS form is also emailed. Thanks
What might I have input that would trigger one transaction in a capital gains form?
No 1099 form should capital gains.
I have zero capital gains. Closest thing is a dividend, but the DIV form specifically states "no capital gains."
What might I have input that would trigger one transaction in a capital gains form?
First, pay attention to the amount of capital gains being reported. That might trigger a memory so you'll know what you check.
Next, what is the specific form number you are referring to as a "capital gains" form? I find no such form with that title.
What is triggering this form is not that you have any capital gains, but it is because you have qualified dividends.
If you notice there is a difference between your total dividends and ordinary dividends. This difference is the qualified dividends portion which then gets used in the capital gains tax worksheet.
So all of this must get tied together for purposes of TT generating tax form 8949 and Sch D.
Not sure why you can't efile as a result of this, that makes no sense. When you reported the amounts on the various lines, you indicated capital gain as "0". make sure you did not input this value; just leave it blank as see if that "fixes" the issue.
Thanks for the response.
Zero capita gains appear on my 1099-DIV page in TT.
There's a difference of $109.51 between ordinary and qualified dividend.
But that figure doesn't appear in the "Form 1099-DIV Worksheet", or on the "Capital Gain (Loss) Transaction worksheet".
But the last-mentioned worksheet does start with (Part I, Investment Information. Transaction Number 1", though the actual IRS form in TT for dividend shows 0.00 for capital gains.