ldunlap
Level 1
05-18-2021
05:10 PM
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I have a client with an amount entered on Line 9 (Cash liquidation distributions) on their "Dividends and Distributions" information and I don't know where to enter it on the tax return or even if it should be entered. I have never encountered this before. Has anyone else?
Thank you,
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PATAX
Level 15
05-18-2021
05:18 PM
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@ldunlap it should be entered on Schedule D worksheet in my opinion. .
Enter The total amount on the gross proceeds and then the cost basis in the appropriate box.
sjrcpa
Level 15
05-19-2021
10:22 AM
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It's taxable, Sch D to the extent it exceeds basis. Otherwise not reportable.
The more I know the more I don’t know.
