Ordinary Dividends showing up twice on Schedule B form

[ashweeta]

I imported the 1099-DIV form from my investment companies. It shows up correctly on the 1099-DIV Dashboard under the Wages & Income section. However, just before I filed I noticed that on the PDF forms, it was listed twice for one of my investment companies thus increasing the total ordinary dividends on Line 6 on Schedule B Form 1040. How can I remove the duplicate?

PS. Unfortunately, I've already paid and was ready to file so I can't even delete and start over.

[SamS1]

Try reviewing your forms in TurboTax and deleting the duplicate.  While in your return in TurboTax:

• In the left hand column select "Tax Tools"
• Select "Tools"
• Select "Delete a form"
• Review for duplicate 1099-DIV under "Schedule B"
• Delete selected form then "Back"
• Run your Federal review again.
• Print your return and review amounts.

The pandemic has affected your taxes in many ways. Including reporting in TurboTax the amount of stimulus money you received. Click Here for more information on how the Pandemic affected your 2020  taxes.

[ashweeta]

There is no duplicate 1099-DIV form in the list of Forms under Tools. Other items in that form such as Qualified Dividends and Cap Gains Dist show up only once. Only the Ordinary Dividends and only from one company (Betterment) are duplicated. 
 
I even tried deleting the imported 1099-DIV from Betterment and tried entering it manually yet duplicates persist. 

[SamS1]

One more suggest.  Delete the 1099-Div from Betterment, log out, clear your browser cache and cookies, then log back in and enter the 1099-Div manually.   Cookies are small files that temporarily store data on your computer. We use them to personalize your experience so you see information you already entered and not items that are irrelevant or repetitive.  On rare occasions, they may make your browser think you already did something that you still need to do. To fix that, you'll need to delete (clear) the cookies from your browser.  Each browser has a slightly different method for deleting cookies. Choose the browser you're using:

• Internet Explorer
• Mozilla Firefox
• Google Chrome
• Safari
• Safari for iOS (mobile devices)

Also, if you are using the app, try logging into your account  through TurboTax.com and make the change there.

[ashweeta]

Hi,

Thanks for the suggestion. I tried that and before even manually entering the Betterment details again, I checked the PDF file for the return in the File Returns section. Now it is showing only one entry for Betterment although it's not part of the Wages & Income dashboard.

I noticed that, on the screen where it shows all wages and income, it shows the correct total that includes the correct Betterment DIV amount although when you click thru to the DIV section, Betterment is not even listed as part of the DIV accounts. So there seems to be somewhere in your system, that Ordinary Dividends figure is stored and is showing up on my dashboard and on the PDF returns.

After logging out of TurboTax, I even opened it in a fresh new browser where I had never opened it before (ergo no cookies or cache) but same issue there too so I'm assuming this is a server side problem.

[SamS1]

Just to make sure, you did not enter a K1 from a partnership or Sub-S corp where the dividends on the K1 are flowing to dividends line of your 1040?  If it is flow from another form, it will not show up in the Dividends section of TurboTax.

[ashweeta]

I don't have forms for K1 or a Sub-S Corp so I doubt that.

[ashweeta]

I carefully checked the PDF forms, and I don't think K1 and Sub-S Corp have any impact.

Can I do one of the following to resolve this issue?

1. Delete everything and start over. It won't let me do this since I have already paid for TurboTax Premier.

2. Share my returns with an agent at TurboTax who can review Schedule B and see what exactly I'm talking about (duplicated ordinary dividends).

Thanks.

[SteamTrain]

@ashweeta 

One thing you can do to perhaps fix it ...is to use @SamS1   's directions on deleting forms, but select the Schedule B instead.  Deleting the Schedule B will delete all 1099-DIV, -INT, -OID forms in one step, and clean out the Sched B....at least it always did in the past. (don't know about K-1's if you had any) .

Then you can re-enter them...but make sure you don't import the Betterment one again...in case it has some strange fouled-up format that might have caused the problem in the first place.   Make sure that one is entered manually.

....But#2...might be safer to enter them all manually.

[SamS1]

If all else fails, you could try talking to Customer Service about a refund.  The best and most efficient way for you to connect with the right person to get the help.  We're open daily from 5:00 AM to 9:00 PM PT.  Click here to get you the help you need.   But I like @SteamTrain idea deleting all Sch B and re-entering everything.

[ashweeta]

The issue is now resolved. Phew!

I deleted all the interest, stocks, and dividend-related items from the dashboard. Yet that dividends from Betterment was showing up on the 1040 PDF. I also found a TurboTax Worksheet that had that number. 

Finally, I followed @SteamTrain's advice and deleted the Schedule B form from the Tools Center. I then re-entered the information again; some manually and some through the import and it worked out this time. I'm not sure why it happened in the first place but am glad it's resolved. Thanks for your timely help.

[SteamTrain]

Yep...the Schedule B is the key...a similar issue has been experienced a few times in prior years...don't know if anyone has been able to track it as it has been really rare.....but dumping the Schedule B fixes it.  I just keep this saved in the back corner of my mind for just such situations.

[margo1450]

interest and ordinary dividends listed twice on schedule B.  I have filed and payed.

[ThomasM125]

You should prepare an amended return to delete the duplicate interest and dividends and if you end up getting a refund you can file it. 

You can file an amended return using TurboTax for no additional fee. You will see the option on your Home Page in TurboTax, then under Your tax returns and documents, look for an option to Amend/Change your return. You should wait until you receive your refund or the IRS has processed your return, if you sent a payment, before you amend your tax return.

@margo1450