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Level 3
March 26, 2024
Question

Why is my charitable contribution that I am paying from long term capital gains not showing up correctly on Schedule A and B of the 1040?

  • March 26, 2024
  • 1 reply
  • 19 views
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    1 reply

    Level 15
    March 26, 2024

    You haven't told us how it is showing up or how you think it is supposed to show up, so I don't think anybody can help you unless you provide a lot more information.

    How does Schedule B have anything to do with this?

    Level 3
    March 26, 2024

    Sorry this is on the 1041 shows up on the Schedule A but does not enter on line 4 when it is paid out of capital gains.  So it doesn't change Schedule B which still shows the capital gain as taxable to the beneficiaries.