THANK YOU FOR YOUR QUICK ATTENTION TO MY QUESTION
yes. here's the full breakdown of the 1099-DIV $ amounts:
line 1a is being reported on 1040 line 3b
line 1b is $0
line 2a + 1099-B gain are being added together and reported on 1040 line 7
so it appears to be double reporting and that 3b should be $0
I've tried overriding (I'm working off CD version but override is always greyed out), removing worksheets, starting over and can't seem to set line 3b to $0 (as I think it should be)
1a on your 1099-DIV is ordinary dividends which flows to line 3b on your 1040. Isn’t that what is happening?
my box 7 stuff is only capital gains - TT has by dividends up in box 3 - sorry i dont have a better answer for you - good luck.
Hi. I don't think what's being done is correct.
Let me put actual $ amounts and see if that is clearer.
1099-DIV
1a $4644
2a $2795
all else $0
1099-B
1d $10670
1e $9691
calculated gain $979
1040
line 3b $4644
line 7 $3774 (which is $2795 from 1099-DIV + $979 from 1099-B)
Schedule B Dividend Income Smart Worksheet includes $4644 in box 1a and $2795 in box 2a and then below it is Part II - Ordinary Dividends which states: "Do not enter data here; use the Dividend Smart Worksheet above." Yet line 5 includes $4644 which is what I believe is actually what is flowing to 1040 line 3b and is incorrect and should be deleted/overridden (and again, another problem I have is that there is no override functionality in my CD version of TT).
Thanks for your continued attention
The amounts from your 1099-DIV are flowing properly to your 1040. The 4644 is labeled ordinary dividends on your 1099-DIV and 4644 is on line 3b of your 1040 labeled ordinary dividends.