Does anyone know the Proseries input for the LTCG treatment when distributions exceed basis?
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I have always entered in the Sch D worksheet with something like " Distribution in excess of basis XYX Corp" then entered it as long term with no dates and the amount of overage in the sale price.
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Same place you'd enter any capital gain (and it's generally a LTCG). NOT reported on F.1099-B, non- covered.
A PS user will stop by to give you the specifics (I use Lacerte...)
