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March 15, 2022
Question

Turbo tax software has a box 2A in the dividends reporting section. Why doest my financial institution give me the capital gains amount to go into 2a?

  • March 15, 2022
  • 3 replies
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3 replies

rjs
Employee
March 15, 2022

Box 2a on Form 1099-DIV is for capital gain distributions from mutual funds. Your investment might not have paid any capital gain distributions. Other capital gains, from selling investments, are not shown on Form 1099-DIV.

 

rjs
Employee
March 15, 2022

If you have capital gains from selling investments, the financial institution should have sent you a Form 1099-B showing the sales. When you enter the 1099-B information in TurboTax, TurboTax will calculate the amount of capital gain.

 

March 15, 2022

If your financial institution did not put an amount in box 2a that means that there are no capital gains that need to be reported.    Not every 1099-DIV has capital gains that need to be reported.    Only enter the amounts into TurboTax that are shown on the 1099-DIV.

 

It is not uncommon that there is no capital gain on 1099-DIV.