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Level 2

Question

Scheudle K-1

Forum|Forum|5 years ago
May 15, 2021
1 reply
4 views

I received a schedule K-1 this year, turbo tax shows a capital gains distribution on schedule d...why is turbo tax doing this?

Level 15

If your Schedule K-1 has capital gains, the amount will be reported on Schedule D.

K-1s have boxes for net short-term and net long-term capital gains. Those amounts will transfer to Schedule D lines 5 and 12.

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HelpEachOtherAuthor

Level 2

I do see Long Term gain but then I see in line 10 a positive dollar amount, line 12, a negative dollar amount, and in line 13 a capital gain distribution (positive) amount. This is the part I do not understand. Is the LTCG rate the same and with any investment based on income level?

Level 15

The amount on line 13 is unlikely to have come from the K-1. Check for a 1099-DIV with an amount in box 2a.

Otherwise, review the K-1 and your K-1 entries to see where the Capital gains distribution amount came from.