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Level 1

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

If I sum up the $ numbers shown in TurboTax Deluxe's "Your 2017 Income Summary" screen, the sum is quite a bit LESS than the sum TurboTax shows on the (subsequent)

"Jane and John, Here's a Picture of Your 2017 Income" screen.

After going back and forth between the two screens, and dropping into 'Forms' mode (and seeing what TT had in Sched D), the difference seems to be that Capital gain distributions are NOT shown/included in the

"Your 2017 Income Summary" screen,

yet they ARE included in the "Capital Gains and Losses" number shown in the "Jane and John, Here's a Picture of Your 2017 Income"  screen.

So, qstn 1: can anyone confirm this is the case ?

qstn 2: if so, WHY does TT not include Capital gain distributions in the  "Your 2017 Income Summary" screen ?

1 Best answer

Accepted Solutions
Level 1

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

I am able to duplicate this in an instance where the capital gain stemmed form a 1099-DIV entry, so I'll report it.  It is, however, only an error in the display.  Summary screens show entries and really have no connection to the calculations of taxable income in your return. Summaries pull from worksheets designed just to show amounts on the screens, they don't pull from anything on your actual return. Any time you have a question about how something is displaying in the interview, you should do exactly as you did, and look at your actual return.

8 Replies
Level 1

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

I am able to duplicate this in an instance where the capital gain stemmed form a 1099-DIV entry, so I'll report it.  It is, however, only an error in the display.  Summary screens show entries and really have no connection to the calculations of taxable income in your return. Summaries pull from worksheets designed just to show amounts on the screens, they don't pull from anything on your actual return. Any time you have a question about how something is displaying in the interview, you should do exactly as you did, and look at your actual return.

Level 2

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

I dont see any mention of capital gains in the 'Your 2017 Income SUmmary' Section either and i have cap gains on schedule D.  So this is definitely an error in the display?  How come Turbo Tax didnt review this? Also, not sure what you mean by "stemmed form a 1099 Div entry"?? what does that mean?
Level 1

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

I think TurboTaxAnita meant to say "stemmed from a 1099DIV entry", i.e., from a capital gain distribution reported (to taxpayer) on a 1099DIV form.    I'll let TurboTaxAnita comment/explain further.
Level 2

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

Yeah, still doesn't really make sense...cap gain stemmed from a 1099-Div? what does that mean? So they say they duplicated the issue. If you duplicate the issue, that would mean that the 'Your 2017 Income summary' screen would not show the capital gains distributions, but they are on the Schedule D. (That is the issue) So anyway, here is the deal...  That Income Summary page does not show the capital gains distributions.  It just shows whatever they choose to show there so no reason to be alarmed here.  So this is not really an error in the display, but they just chose not to display the capital gain distributions for some reason.  Who knows why not, but there are many things to choose from i guess.
Level 1

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

the problem stays in 2018...
Level 2

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

Thanks for the heads up.
Level 1

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

What ?  TurboTax didn't fix the problem ??  That's cheap.
Level 2

Are Capital gain distributions NOT shown/included in the "Your 2017 Income Summary" screen

lol. So this is actually more of an issue of not supplying some detail. It is basically something they don't have to supply I guess.  Receiving these emails here, reminds me that it is time to do my taxes. Why am i not exited about this. ugh. i will start my pre-tax process. Step 1:  check levels of Advil/headache relievers.