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ldunlap
Level 3
May 18, 2021
Question

2020 1040 Schedule B DIV Line 9

  • May 18, 2021
  • 2 replies
  • 2 views

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,

This topic has been closed for replies.

2 replies

PATAX
PATAX
Level 12
May 18, 2021

@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
sjrcpa
Level 15
May 19, 2021

It's taxable, Sch D to the extent it exceeds basis. Otherwise not reportable.

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