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Level 1
June 5, 2019
Question

1040 line13 capital gains more than summary pg Stocks, Mutual Funds & Bonds. Why?

  • June 5, 2019
  • 1 reply
  • 13 views
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1 reply

Alumni - Champ
June 5, 2019

Capital gains can come into your income tax return from other sources than your own trading activity.  Two common sources are LTCG distributions reported on 1099-DIV and capital gains reported on Schedules K-1.  Go look at your Schedule D.  That's where all the information that shows up on line 13 of the Form 1040 is captured.

Tom Young