Turbotax says I have to upgrade because I have "Capital Gains or Losses" but I did not sell or buy any investments, assets, etc. Where is turbotax getting this info from?
I have a federal tax due but does that relate to capital gains or losses?
Go to the investments section and delete any entry there. Then go to tax tools...tools...delete a form. Delete any 1099-B and Schedule D.
The other answer is also probably usable, however
How can you get "Cap Gains" without actually selling or buying during a given year.
If you have any mutual funds, or even some kinds of stocks.
The mutual fund owns stocks, and the mutual fund buys or sells some of those stocks during the year.
That creates a "capital gain or loss"
You would get this information entered into TurboTax by importing information during the "Import information" portion of TurboTax Guide me through, section.
Thanks for the reply! I tried deleting these forms but it doesn't actually delete it. I select delete and after refreshing the form is still there.
I did contribute to a 401k this year, but I've only put money in - not out. Is that reported in Schedule D?
No, 401k contributions are not reported on Schedule D.
If you entered any information on Form 1099-DIV, there could be a capital gain distribution reported in box 2a. If there is an amount shown there, then it will be reported on Schedule D.
To answer one of your original questions, having a balance due does not directly relate to needing Schedule D for capital gains and losses.
Also, you should not simply delete the forms from your return if the income was reported on your Form 1099-DIV. Not reporting the income is likely to cause a mismatch within the IRS system and could result in you getting a letter requesting that you pay additional tax for under-reporting your income.