Question

Entering 1099-DIV and the TTH&B Personal Income Summary page

Forum|Forum|5 years ago
April 23, 2021
1 reply
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My 1099-DIV has 6 amounts (1a, 1b, 2a, 7, 11, and 12) and I have double checked them where I entered them and can't find any combination of them that totals up to what TTH&B (TurboTax Home and Business on my laptop) rolls up onto the Personal Income Summary page. The "explanation" pop-up only show the 1a amount and the Forms view does not show the total that is on the Personal Income page. Please explain the calculation of the 12 plus boxes on the 1099-DIV form. In the same place in TTH&B in 2019 the Summary page showed the total of Ordinary Dividends + Foreign Tax Paid (which does not make much sense to me) but that is not the case in TTH&B 2020. Please help.

TurboTax Home & Biz Windows

SteamTrain

Employee

The Summary (menu) page shows the total of all of boxes 1a and 11

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box 1b is a subset of 1a....thus doesn't add in to the total.

Box 2a is a capital gain...so it goes to the Schedule D

Box 7 is a tax paid, so it isn't income ...but a "possible" credit or deduction.

Box 12 is a subset of box 11, thus doesn't add into the total

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The 2019 values showing in the summary page of the 2020 software, do not include the box 11 values from the 2019 tax return......this confuses a lot of people who are looking really closely. No, I don't know exactly why, but possibly the file transfers don't contain enough detailed information to include box 11 for the prior year listing because it adds o the 1099-INT box 8 values on the actual form 1040. IF you open last year's tax return with the actual 2019 software, that Summary page should show a different summary page value for the 1099-DIV if there were box 1a and box 11 entries in any of the -DIV forms entered that year.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

C

CA_Tax_PayerAuthor

Hi SteamTrain, Your reply to my message was EXTREMELY helpful with details (and no insults, like did I check my entries?). I did in fact go back to the 2019 software (to which I had to apply updates before I could look, which was a little scary because I didn't want to CHANGE anything) to look at the summary page and YOU NOTICED but I DIDN'T that the the value in the 2019 software was different from what the 2020 software showed as the 2019 value. And you even explained WHY that might be the case! A better reply than I could have hoped for. Thank you for your research and thoughtful reply. Best regards, /Tom