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