tomead64
Level 2
03-29-2020
03:05 PM
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I have a client with a 1099-DIV that has a cash liquidation distribution. I am unable to find a worksheet or place to enter box 9 information. What am I overlooking?
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Level 15
03-29-2020
03:18 PM
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This is usually not taxable or entered on tax return. It is a return of investment, and your client reduces his basis in the investment. If in the event he receives more than his basis, you would report on schedule D capital gain.
tomead64
Level 2
03-29-2020
03:30 PM
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Thank you, Terry. Box 9 is the only box with an amount and I did not see an applicable place on schedules B or D for it.
sjrcpa
Level 15
03-29-2020
03:37 PM
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If it is reportable you enter the taxable amount as sales proceeds on Sch D/Form 8949 and -0- basis.
The more I know the more I don’t know.