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]

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 · Accepted solution]

Short term capital gain distributions are taxed as dividends. That's why they are in Box 1a on the 1099-DIV.

[AdeptAccounting]

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]

That's a carryover.

1. Navigate to Income > Dispositions (Sch D, etc.) > Schedule D/4797/etc.;
2. In the top-right corner of the input screen, click on Carryovers/Misc Info; and
3. Enter the carryover amount(s) under the Capital Loss Carryover section.

[AdeptAccounting]

Thank you, much appreciated.

[itonewbie]

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