topic Total capital gains distribution in Get your taxes done using TurboTax

Total capital gains distribution

RJ7 — Fri, 31 Jan 2020 17:13:23 GMT

the amount in 1099DIV box does not show up as income

Re: Total capital gains distribution

SteamTrain — Fri, 31 Jan 2020 21:21:26 GMT

Which box ?...and how much was entered in that box.

Re: Total capital gains distribution

salangevin — Mon, 03 Feb 2020 22:37:31 GMT

I had the same problem. Refering to Line 2a on 1099-DIV. It is entered into the program, but not included in taxable income. Amount entered is about $3000. IRS instructions indicate Schedule D is not needed if no losses or gains from sale of securities.

Re: Total capital gains distribution

SteamTrain — Tue, 04 Feb 2020 00:06:21 GMT

@salangevin

Did you actually look at line 6 of your 2019 Form 1040?

Re: Total capital gains distribution

salangevin — Tue, 04 Feb 2020 01:39:09 GMT

No, it appears that I can't look at or print the forms unless I "register". It was unclear why I needed any further "registration" at this time, so I have not registered. I did look at the review where the sources of my income are listed, and the Total Capital Gains Distribution is not included. Also, the additional tax that I still owe is short of what I expected, which is what prompted me to try to find out what was wrong. And per my first post, it appears to be due to the omission of the Capital Gains Distribution from my income.

Re: Total capital gains distribution

SteamTrain — Tue, 04 Feb 2020 01:58:00 GMT

IT is true that when you enter your 1099-DIV form, that when you get back to the Wages&Income Menu page, the 2019 column next to the 1099-DIV does not include the box 2a $$.....but that''s because it is not a dividend, and doesn't mean it's not going to the right spot in your actual tax forms.

____________________________________

Don't need to register....that's only needed if you want to print out a file from Online "Free" (I think...haven't used "Free" recently)

Left hand side of the screen

<Tax Tools

<<Tools

then a pop-up menu <<<View Tax Summary

then select <<<<Preview My 1040 from the left side of the screen

and you can look at the 1040 worksheet, but not print it.

Re: Total capital gains distribution

SteamTrain — Tue, 04 Feb 2020 02:04:35 GMT

Too bad I can't see what you are doing (and this is all public to the entire world), I can only try to guess at what pages you are looking at..

if...IF... you are not using the Online "Free" version, you can talk to Customer Support during their working hours (PACIFIC time).

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

Re: Total capital gains distribution

salangevin — Tue, 04 Feb 2020 02:29:04 GMT

I am using the Premier version, which was available to me free through Fidelity. So, it is not supposed to be the "Free" version that you refer to. But when I follow your instructions to use Tools to view my 1040, I do not get an option to view it as you indicated. Instead, all I get is a summary page. I also filled out a return manually using forms from IRS. I will look at the instructions for Line 6 more closely. Based on the response to a similar question on the TurboTax Community, I believe the amount on 2a of my 1099-DIV is a reinvested distribution from a mutual fund, and is therefore not actually taxable income since the mutual funds were not sold in 2019.

Re: Total capital gains distribution

SteamTrain — Tue, 04 Feb 2020 02:40:12 GMT

Nope...reinvested Dividends are reported as income NOW in 2a and as income on your tax return.

......and then they add to cost basis of the purchased Fund. Two steps...the second of which isn't dealt with until you sell fund shares

___________________________

When you first do the View Tax Summary.....yeah, a bloc summary page shows up...then there is a separate Preview My 1040 that shows up as a separate selection on the left side....but maybe you do have to register.

_______________________

You could also delete that 1099-DIV entirely, and re-enter it manually in case there are some kind of scrambled bits in the import file that are messing up that 1099-DIV form.

Re: Total capital gains distribution

salangevin — Tue, 04 Feb 2020 02:54:05 GMT

The summary page for the 1099-DIV in TurboTax shows the correct Line 2a entry, so, I'm not optimistic that deleting it and entering it manually will make a difference. I'll keep messing with it and update you.

Thanks

Re: Total capital gains distribution

DBS — Sat, 22 Feb 2020 13:48:47 GMT

Where do I enter a capital gains distribution Box 2a

Where do I enter a Non Dividend Distribution 1099 Div (Box 3)

Where do I enter Foreign Tax Paid (1099B Box 7)

Re: Total capital gains distribution

BarbaraW22 — Sat, 22 Feb 2020 18:29:35 GMT

If you are using the online version of TurboTax, please see the steps below to enter Box 2a, 3 and 7 of Form 1099-DIV:

Click on Wages and Income at the top of the screen
Scroll down to Interest and Dividends and click on Show More
Click on Start or Revisit next to Dividends on 1099-DIV
Select "Add a 1099-Div" or Edit next to your Dividend entries and enter your information. Box 2a for "Capital Gain distributions" is located under the Box 1a, Total Ordinary Dividends. (See screen shot below)

5. Under box 2a check the box for "My form has info in other boxes." This will expand the screen so that Boxes 3 and 7 will be available for your entries. Please see screen shot below.

6. Scroll down and select Continue at the bottom of the page and answer remaining questions.

@DBS

Re: Total capital gains distribution

ELKANI — Fri, 18 Feb 2022 18:00:42 GMT

WHERE DO I ENTER CAPITAL GAINS ? MY IMPORT FROM FIDELITY DID NOT SHOW CAPITAL GAINS???

Re: Total capital gains distribution

AmyC — Fri, 18 Feb 2022 21:42:26 GMT

Form 1099-B shows gain and loss from sales. Capital losses are limited to $3,000 and can be carried over into future years to offset gains. You may have some losses carried over to go against your gains. If you were unable to import it, you can type it in manually. See Where do I enter a capital gain or loss?