I have received a final distribution reported on 1099-DIV Box 9. I've entered the amount into Turbotax as instructed but Turbotax has not handled the amount properly or at all. Turbotax told me it would "handle your cash liquidation distribution later" but that doesn't seem to happen.
I know the cost basis but Turbotax has no place to enter it. The amount of my capital gain on the liquidation distribution is not adding into my income for the year so my return is seriously underreporting my income. Does anyone have any idea what to do? Is there some other form or section in Turbotax somewhere?
From @JamesG1:
If the liquidating distribution shown in Box 8 or 9 is a complete liquidation, then report the amount in Box 8 or 9 on the stock sale screen as a stock sale. For example, if your cost basis in stock in a company is $1,000 and the company is totally liquidated, then if you receive a 1099-DIV with Box 8 showing $400 and you received nothing else from the liquidation, then you would report the stock as a sale on the stock sale screen and report $400 as the sales price and $1,000 as the cost basis in the stock that was completely liquidated.