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TT not transferring Capital Gains Distribution from 1099-DIV to Schedule B or 1040. How to fix ?

 
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2 Replies
LenaH
Employee Tax Expert

TT not transferring Capital Gains Distribution from 1099-DIV to Schedule B or 1040. How to fix ?

Capital gain distributions flow to Schedule D, Line 13. This gets totaled in with other amounts on Schedule D. Then, the total on Line 21 flows to 1040, Line 7.

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TT not transferring Capital Gains Distribution from 1099-DIV to Schedule B or 1040. How to fix ?

I discovered the emailed answer after I found the solution from looking at my own previous year’s tax return.   

For some reason, TT downloads two 1099s for one Schwab Brokerage account. I have to delete this second 1099.  I think this happened last year also

 

Without my own Excel spreadsheet for collecting all our data, and my record of my previous returns, I might have been at a loss. 

TT facilitates preparing the 1040 return but one has to have their own data assembled correctly.  The old adage applies: Garbage in, Garbage out.

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