1099-DIV

[dointaxes123]

It appears that dividend info is being reported twice on the 1040 - on lines 3b and 7. The schedule B worksheet includes dividend info in the smart worksheet box as well as in part 2.

[Bsch4477]

Did you have an amount in box 2a in your 1099-DIV?

[dointaxes123]

THANK YOU FOR YOUR QUICK ATTENTION TO MY QUESTION

yes. here's the full breakdown of the 1099-DIV $ amounts:

line 1a is being reported on 1040 line 3b

line 1b is $0

line 2a + 1099-B gain are being added together and reported on 1040 line 7

so it appears to be double reporting and that 3b should be $0

I've tried overriding (I'm working off CD version but override is always greyed out), removing worksheets, starting over and can't seem to set line 3b to $0 (as I think it should be)

[Bsch4477]

1a on your 1099-DIV is ordinary dividends which flows to line 3b on your 1040. Isn’t that what is happening?

[niner338]

my box 7 stuff is only capital gains - TT has by dividends up in box 3 - sorry i dont have a better answer for you - good luck.

[dointaxes123]

Hi. I don't think what's being done is correct.

Let me put actual $ amounts and see if that is clearer.

1099-DIV

1a $4644

2a $2795

all else $0

1099-B

1d $10670

1e $9691

calculated gain $979

1040

line 3b $4644

line 7 $3774 (which is $2795 from 1099-DIV + $979 from 1099-B)

Schedule B Dividend Income Smart Worksheet includes  $4644 in box 1a and $2795 in box 2a and then below it is Part II - Ordinary Dividends which states: "Do not enter data here; use the Dividend Smart Worksheet above." Yet line 5 includes $4644 which is what I believe is actually what is flowing to 1040 line 3b and is incorrect and should be deleted/overridden (and again, another problem I have is that there is no override functionality in my CD version of TT).

Thanks for your continued attention

[Bsch4477 · Accepted solution]

The amounts from your 1099-DIV are flowing properly to your 1040.  The 4644 is labeled ordinary dividends on your 1099-DIV and 4644 is on line 3b of your 1040 labeled ordinary dividends. 

[dointaxes123]

And so you are right. I was misled by the notations on Schedule B. Thanks.