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M
mick1946
Level 1
April 7, 2025
Question

capital gain

  • April 7, 2025
  • 4 replies
  • 19 views

Client received a 1099-NEC with capital gains. When I put the gain into Sch D it also shows as income from the 1099. How can I put it into Sch D without showing it in the 1099-NEC. Can I not show the 1099?

As it is now I have twice the income. Capital gain and 1099 income.

What should I do?

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4 replies

IRonMaN
IRonMaN
Level 15
April 7, 2025

1099NEC with capital gains?

Slava Ukraini!
    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    April 7, 2025

    Who/Why issued them an NEC for capital gains? 

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
      qbteachmt
      qbteachmt
      Level 15
      April 7, 2025

      How do you know it's capital gains? Where on a 1099-NEC is that indicated?

      Don't yell at us; we're volunteers
        IRonMaN
        IRonMaN
        Level 15
        April 7, 2025

        Someone is obviously going rogue if capital gains are showing up on a copy of a 1099NEC.

        Slava Ukraini!
          ljr
          ljr
          Level 9
          April 8, 2025

          sounds like you need to get a corrected 1099-nec

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