Is TurboTax Missing My Mutual Fund Capital Gains Distributions?

Forum|Forum|3 years ago
March 18, 2023
1 reply
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I use TurboTax Home and Business. I filed my taxes already so if this is screwed up, I will need to file amended returns.

I had three mutual funds with year-end capital gains distributions, each reported on 1099-DIV line 2a. I entered these in the 1099-DIV section of the TurboTax interview ("Interest and Dividends - Forms 1099-INT, 1099-DIV, 1099-OID"). I had no sales to report in the "Investment Income - 1099 B or Broker statements" section, so I skipped that.

TurboTax did not generate a Schedule D, and, not realizing anything was missing, I filed without it. Aren't these taxable, and shouldn't they have been picked up at the point they're entered in the 1099-DIV section (and a Schedule D generated)?

Edit to clarify these are in taxable accounts, not retirement accounts.

TurboTax Home & Biz Windows

AnnetteB6

Schedule D would not be required if you were only reporting capital gain distributions shown on Form 1099-DIV.

Instead, the capital gain distribution is reported directly on Form 1040 line 7. It is also reported on the Qualified Dividend and Capital Gain Worksheet which is used to calculate your income tax instead of using the tax tables.

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