Where in ProConnect on a 1065 partnership return do you enter the portion of 1099-DIV box 1a ordinary dividends that are short term capital gains?

Forum|Forum|5 years ago
March 9, 2021
1 reply
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I want to see this show up on Schedule D line 6 but can't figure it out. I can enter the amount as an adjustment on the Schedule K under Other Schedule K Items and STCG [Adjust], but to get it to show up on the Schedule D all I could figure is listing it as a Part I line 3 (box C) item.

ProConnect Tax

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Best answer by sjrcpa

Short term capital gain distributions are taxed as dividends. That's why they are in Box 1a on the 1099-DIV.

sjrcpaAnswer

Level 15

Short term capital gain distributions are taxed as dividends. That's why they are in Box 1a on the 1099-DIV.

The more I know the more I don’t know.

AdeptAccountingAuthor

Level 2

Thanks, that was what I thought originally. The client's prior year return listed it as a short term capital gain but I will just leave it all in Box 1a.

I'm still curious where the entry in ProConnect would be for Schedule D Line 6 items, if anyone knows.

itonewbie

Level 15

That's a carryover.

Navigate to Income > Dispositions (Sch D, etc.) > Schedule D/4797/etc.;
In the top-right corner of the input screen, click on Carryovers/Misc Info; and
Enter the carryover amount(s) under the Capital Loss Carryover section.

---------------------------------------------------------------------------------Still an AllStar

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