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February 20, 2024
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Capital Gains line 7 form 1040 seems wrong

  • February 20, 2024
  • 1 reply
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I have capital gains of $8278 as entered on a form 1099-DIV.  While everything seems to be calculated correctly, line 7 on form 1040 is populating as $8.  I can't see any way to fix this. It shows as the $8278 on the 1040 worksheet and on the Qualified Dividend/Capital Gains worksheet.

    Best answer by s_wyant

    Thank you for the suggestion.  That wasn't it, and the correct amount had been added into taxable income.  I had exited the program, and when I reopened it to check the 1099-DIV, the problem had self-corrected.  Now showing correct amount in line 7.  

    1 reply

    February 20, 2024

    look at that 1099-Div and see if you didn't accidentally enter 8" . " 278  look for a decimal point there shouldn't be one except possibly after the second 8

     

     

    s_wyantAuthorAnswer
    February 20, 2024

    Thank you for the suggestion.  That wasn't it, and the correct amount had been added into taxable income.  I had exited the program, and when I reopened it to check the 1099-DIV, the problem had self-corrected.  Now showing correct amount in line 7.