2020 Federal 1040 line 7

[susanjd]

How is line 7 Capital gain or loss calculated?

I have amount on Line 3a (Qualified dividends) of $154, and a rollover under $12,000 showing up in line 5a. Why is my line 7 almost $10,000 with the box for Schedule D not required checked?

I don't believe I have any capital gains this year. Where is this amount coming from?

[Mike9241 · Accepted solution]

it would seem somehow you entered $10,000 in Capital Gain Dividends. Box 2a of the 1099-Div

[susanjd]

Thank you so much! That was exactly it! I incorrectly entered an extra digit from my 1099-DIV. This did not show up on my Wages and Income Summary screen, so I didn't notice it.