Dividend reclass

[RK2025]

what screen or section do i use on the web version of the TT software to enter something into line 4g of IRS Form 4952? I want to reclassify a portion of my qualified dividend as ordinary dividend or investment income. Nobody from TT has been able to help me on this so far. Thank you.

[RobertB4444]

When you enter the 1099-DIV into TurboTax the very next screen has three options.  The second option is "I need to adjust these dividends".  Adjust the dividends there and that will carry the amounts to the appropriate form.

@RK2025 

[RK2025]

that doesnt work. tried all permutations and combinations. it doesnt appear on line 4g of Form 4952.

[DaveF1006]

The TurboTax online version does not allow you make this adjustment. You may purchase the software and you can enter an amount on 4G of Form 4952. If you are interested in switching, you can perform the following steps. 

1. Log into TurboTax
2. Open your return
3. Go to tax tools
4. Tools 
5. Save my 2024 return to my computer.

After this first step is complete.

1. Install and/or open your 2024 TurboTax Desktop.
   • If you have not purchased TurboTax Desktop software, select the product you need to complete your return.
   • Important: If your return includes a state, make sure you also install the corresponding state program(s) in order to proceed.
2. Select Continue From TurboTax Online.
3. Sign in to your Intuit Account.
4. Your data will be imported into TurboTax Desktop, and your return will open once data transfer is complete.

[RK2025]

I already paid for an online version. Can I change that to the desktop version?

[DaveF1006]

Yes, but contact Customer Support so they can credit you with your online purchase and provide you with download instructions.

[RK2025]

Why is this not allowed or made available in the online program? Who can I talk to about making that happen?

[RobertB4444]

After you enter a 1099-DIV there is a section that allows you to adjust the amounts on your form.  If you are trying to change the amounts on your 1099-DIV then you should just change them directly on the 1099-DIV. 

@RK2025 

[RK2025]

Apparently that’s not the correct way to do it. The correct way according to IRS is to enter the amount you want to reclassify on line 4g in form 4952. Just modifying what’s on the 1099-DIV doesn’t result in an entry in line 4g on form 4952 and none of the options on the screens after entering the 1099 -DIV do that either. I spent 2 hrs on the phone with a TT tax preparer expert who also tried several other methods and couldn’t get it to work. There just isn’t a provision on the online software to make anything appear on line 4g in form 4952. Quite a glaring flaw in my opinion and something that needs to be fixed, but getting to the right person or team in TurboTax to influence that seems like an impossibility.