Do I need to fill out schedule D if have dividends on Form 1099-DIV in box 1a and 1b?

[Anonymous]

The cost of Turbotax Premier is more than my dividends, so can I avoid using Premier? And how would I fill out schedule D and add it into my Turbotax documents manually if I do it myself?

[pk]

@Anonymous , I am unsure  what you are talking about i.e. the issue you are facing .  1099-DIV i.e. dividend income is reported on Schedule-B as is 1099-INT.  Schedule -D is usually used for  sale/barter of stocks/ bonds /assets etc where there is gain, capital or otherwise.   What are you trying to report ?

[Anonymous]

I guess its for my short term capital gains on stock.   Turbotax says I need to buy the Premier product version to report accurately and include Schedule D.  I never received a form 1040 from my financial institution/broker.

[pk]

@Anonymous , oh yes --- if you have income from sale of  stocks  then yes , you have to report this on schedule-D.  TurboTax will walk you through filling the 8938 and then on to the Schedule-D.  Note a shor-term  gain is treated as an ordinary income and does not get capital gain tretament.

Is there more I can do for you ?

pk

[DiAnne M Broussard]

I received a Form 1099--DIV from T.RowePrice.  Will the form that I need to complete come up later in this process?

[JillS56]

Capital Gains reported in Box 2a, this does not need to be reported on Schedule D.   The 1099-DIV is completed in the Income and Expenses section of the Federal return and selecting Form 1099-DIV.    Do not enter the capital gains from dividends on schedule D. 

Schedule D is used for reporting stock sales shown on a 1099-B.   

[Anonymous]

Thanks for your input.    I made $80 in short term capital gains which will cost me about $20 in taxes.  But it looks like I need to pay another $50 to upgrade to turbotax premier to be able to report this accurately.   What would you do here? @pk 

[JamesG1]

I have correctly reported 1099-DIV box 1a and 1b income on the Qualified Dividends and Capital Gain Tax Worksheet.

See worksheet here on page 36.

@jim-1178