Turbotax free shows my 1099-div as having capital gains. It wants me to upgrade because of this. Is this correct? I have very limited income other wise.

Forum|Forum|3 years ago
March 20, 2023
1 reply
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w-2 line 1 is $150.00 I am a full-time student but do have a 1099-div shows approx. 2900.00 in ordinary dividends, and total capital gains combined. Turbotax shows I owe $109 for Fed. return but also wants me to upgrade to deluxe to file and not for free. does this sound correct?

TurboTax Free Edition Online

HelenC12

Yes, that is correct. The capital gains is an investment and is not covered by the TurboTax Free edition. When you have capital gains, more tax forms are required to report the income or loss so an upgrade to a higher version of TurboTax is necessary.

Capital gains income results from the selling of certain personal items for more than you paid for them. Examples of transactions which can trigger capital gains includes:

Stocks sales
Mutual fund sales
Home sales

The TurboTax Free edition does not cover:

Itemized deductions
Unemployment income reported on a 1099-G
Business or 1099-NEC income
Stock sales
Rental property income
Credits, deductions and income reported on other forms or schedules (for example, income related to crypto investments).

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