UTMA Account

[1894539lu]

Good afternoon,  
I am late filing 2020 taxes due to initial confusion about whether I needed to file (I did not make enough salary-wise to qualify for paying taxes). Since I have since lost my documents, I am going off of the IRS provided transcripts on my account. I had an existing UTMA account that I liquidated that year, and I know approximately how much that distribution was. On the IRS transcripts page, however, it lists "net proceeds" on a broker and barter exchange transaction summary that are nearly half of what I was told the total account amount was. 

Are these net proceeds capital gains that I am indeed needing to be taxed on, or is this just a number that indicates how much I pulled out from the account (which was closed following the transaction, and the "date sold or disposed of" is also given on the transcript)? 

[SusanY1]

Net proceeds would be the amount of an investment liquidated, and is part of the calculation of the capital gain.  You may need to find account statements for that year to determine the dates of the sale, the dates of the purchase, and the cost basis of the funds sold. 

You can't rely upon the amount of the distribution from the account to determine income as some of those funds may have been in cash prior to the withdrawal and not subject to tax. 

You would be taxed on the dividends, interest and capital gains that were from that year only.