Imported 1099 from Raymond James - Capital Gains doubled

Forum|Forum|1 year ago
February 27, 2025
1 reply
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Hello,

I have capital gain distribution on 2a. 1099- DIV and I'm also getting hit on 1099-B for the same long term capital gains therefore doubling capital gains. (I only had one transaction with capital gains.)
Is this a software error? Do I just delete the 1099-B data? My RJ statement says Part II, D box should be marked on Form 8949.
Thank you

TurboTax Home & Biz Windows

DavidD66

You are not being double taxed. There is no software error. You should not delete your Form 1099-B. The amount reported in box 2a of your 1099-DIV are long-term gain distributions from mutual funds. Depending on what you elected, you may have received those distributions in cash, or they may have been reinvested in the fund. Either way, they represent taxable gains. Form 1099-B reports the sales of investments (stocks, bonds, mutual funds, etc.). The gains from the sales reported on Form 1099-B are not the same as the capital gain distributions reported on Form 1099-DIV.

FYI, any short-term capital gains distributions from your mutual funds are included with dividend and income distributions and are reported on Form 1099-DIV and on tax returns as ordinary dividends.

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