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jtdc1
Level 2

TurboTax Business - Enter dividends, interest, cap gains after end of calendar year

I am filing for an estate that is on a July-June fiscal year.  How do I enter income information for the period after the end of the calendar year?  I only see the option to create a 1099.  Since there is no 1099, how do I enter the income?  I thought about creating dummy 1099s but that does not seem right.  Thanks.

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Accepted Solutions
DavidD66
Employee Tax Expert

TurboTax Business - Enter dividends, interest, cap gains after end of calendar year

You're not going to "create" 1099s" but you have to enter the information as if you were entering from a 1099.  For example, for dividend:

 

  • Click on "Federal Taxes"
  • Click on "Income"
  • Click "Start" next to "Dividend Income on 1099-DIV"
  • On the next screen you will be asked "Any Taxable Dividend Income?"  See screenshot below. 
  • Note, you will also see on that page:  "Enter all taxable dividends here even if they were not reported on a 1099-DIV" 
  • Click on "Yes"
  • On the next screen enter your dividend information.  See screenshot below

 

Enter Dividend IncomeAny Taxable Dividend Income?

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3 Replies
DavidD66
Employee Tax Expert

TurboTax Business - Enter dividends, interest, cap gains after end of calendar year

Enter the income received after the end of the calendar year the same way you would if you had a 1099-DIV,  1099-INT, or 1099-B.

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jtdc1
Level 2

TurboTax Business - Enter dividends, interest, cap gains after end of calendar year

Thanks for the reply.  Mechanically, how does that work?  If I go through the "Interview" questions, the only option I have is to create 1099s.  One of the items of income is a personal loan made to a beneficiary so no 1099 has been or will be issued.  The other items will have 1099s issued but not until next year.  Where in TurboTax Business do I access the screen for entry?  I really appreciate the specific program guidance you can offer.

DavidD66
Employee Tax Expert

TurboTax Business - Enter dividends, interest, cap gains after end of calendar year

You're not going to "create" 1099s" but you have to enter the information as if you were entering from a 1099.  For example, for dividend:

 

  • Click on "Federal Taxes"
  • Click on "Income"
  • Click "Start" next to "Dividend Income on 1099-DIV"
  • On the next screen you will be asked "Any Taxable Dividend Income?"  See screenshot below. 
  • Note, you will also see on that page:  "Enter all taxable dividends here even if they were not reported on a 1099-DIV" 
  • Click on "Yes"
  • On the next screen enter your dividend information.  See screenshot below

 

Enter Dividend IncomeAny Taxable Dividend Income?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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