Re: 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?

AdeptAccounting · ‎03-09-2021

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.

sjrcpa · ‎03-09-2021

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.

View solution in original post

AdeptAccounting · ‎03-09-2021

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 · ‎03-09-2021

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.

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Still an AllStar

AdeptAccounting · ‎03-09-2021

Thank you, much appreciated.

itonewbie · ‎03-09-2021

NP, @AdeptAccounting. We're glad to help.

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Still an AllStar