Question

1099-DIV and K-1 have duplicate dividend. How to manually edit adjustment in TurboTax?

Forum|Forum|3 years ago
April 13, 2023
1 reply
0 views

Thanks in advance for the help!

My 1099-DIV and K-1 report duplicate dividends. I know that you are able to adjust these dividends in TurboTax, but the default comment on the Schedule B just says "Other adjustments." I'd ideally like to manually edit this entry to be a little more descriptive as to not cause issues on my return, but I'm not sure if I'm able to with the TurboTax software. Is there any way around this?

Separately, please let me know if "Other adjustments" is fine and the IRS will work it out. Thanks so much! Really appreciate the help!

TurboTax Home & Biz Windows

T

ThomasM125

The Other Adjustments entry on schedule B that you refer to cannot be modified in TurboTax. The only thing you could do is attach an explanatory statement and mail your return in. However, it is doubtful the IRS will read your statement as they are mostly focused on the numbers entered. It is customary to see adjustments to dividends and similar items of income on federal tax returns so you should be OK without attaching a statement to your return.

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