capital gains reporting

Forum|Forum|2 years ago
March 18, 2024
2 replies
26 views

why does TT show a different capital gains amount on 1040 line 7 than the amount of gains if I add up all the form 1099-Div box2a amounts. I'm sure it's easy but I can't find the answer

JulieS

Level 15

Yes, the line 7 amount is the net of all capital gains and losses, subject to limitations that are on your return. This includes:

Capital gain distributions from box 2a of 1099-DIV.
Capital gains or losses from Schedule K-1.
Capital gains or losses from Schedule D.
Capital loss carryovers from prior years.
Gains or losses from the sale of business assets.

Check your Schedule D, line 16 for the total and the details on the first page of Schedule D.

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Mike9241

Level 15

just look at schedule D to see all the lines with data. The CGD would be on line 13

Mike9241

capital gains reporting

2 replies

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