topic I've entered a cash liquidation from box 8 on a 1099-div and it's not carrying it to the tax return to show the taxable portion. Help!?! I KNOW I have to pay tax! in Get your taxes done using TurboTax

I've entered a cash liquidation from box 8 on a 1099-div and it's not carrying it to the tax return to show the taxable portion. Help!?! I KNOW I have to pay tax!

eaglescoutmom3 — Tue, 04 Jun 2019 19:56:09 GMT

Even though TurboTax states "We'll handle you cash liquid...

TomYoung — Tue, 04 Jun 2019 19:56:10 GMT

Even though TurboTax states "We'll handle you cash liquidation distribution of [DOLLARS] from [PAYEE] later " and "Just remember to go to the Investment Income section under Income & Expenses", all of which suggests that you're going to find that amount already entered when you go to that section, it really doesn't. It's all up to you to figure this out.

IF the Box 8 amount is more than your basis in the investment THEN you have a reportable "sale". Using the "Stocks, Mutual Funds, Bonds, Other" interview and telling TurboTax "I'll type it in myself" and that no 1099-B was received, use the Box 8 amount as the "proceeds" of a sale, subtracting your remaining basis.

Tom Young

Re: Even though TurboTax states "We'll handle you cash liquid...

Mike20201 — Sun, 08 Mar 2020 23:29:47 GMT

I have established that I gain from the cash liquidation distribution (Liquidation - cost). No 1099B was received but the liquidation amount is in 1099Div box 9. The liquidation is NOT complete. Do I have to report the capital gain now in 2019 or wait till the liquidation is complete