1099 Div with box 9 amount( Liquited distribution)and TT deluxe says we will come back to it but does no go back or take any action. Called TT and they indicted that I need to upgrade to TT premium. Did upgrade as directed ($30 plus taxes)
And still the same message as TT deluxe. Looks like I was asked to upgrade without any results. What is wrong with TT ? They should not have asked me to upgrade. Amount on line 9 is less than basis so I have a long term capital loss. ( Recd 1099 Div and not any 1099 B) Using TT for last fifteen years and was not expecting this
Have you tried going to the forms view and entering your numbers manually?
No luck. Have tried that. Seems like something is missing in the software
There is a box you can click to open up other more uncommon boxes.
Question was that after you enter the amount on line 9 on 1099DIV TT informs that we will handle your cash distribution later. The “later”never comes
You need to go to the Investment section. The last screen of the 1099-DIV states:
"We'll handle your cash liquidation distributions from this payer later"
"Just remember to go to the Investment Income section under Income & Expenses"
When a corporation, bank, or credit union undergoes a partial or complete liquidation, you may get a liquidation distribution. Oftentimes, this distribution is not taxable; instead, it reduces the basis of any stock you own.
However, in the following cases, the distribution is taxable, which means you'll need to report it as a liquidation sale when you report your investment income:
If the liquidation results in the cancellation of stock, and the total distribution ends up being less than your basis, you can claim a loss in the year the final distribution is received.
When you sell the stock, your cost basis will be reduced by any distributions you received.