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capital gain

mick1946
Level 1

Client received a 1099-NEC with capital gains. When I put the gain into Sch D it also shows as income from the 1099. How can I put it into Sch D without showing it in the 1099-NEC. Can I not show the 1099?

As it is now I have twice the income. Capital gain and 1099 income.

What should I do?

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5 Comments 5
IRonMaN
Level 15

1099NEC with capital gains?


Slava Ukraini!
Just-Lisa-Now-
Level 15
Level 15

Who/Why issued them an NEC for capital gains? 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
qbteachmt
Level 15

How do you know it's capital gains? Where on a 1099-NEC is that indicated?

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IRonMaN
Level 15

Someone is obviously going rogue if capital gains are showing up on a copy of a 1099NEC.


Slava Ukraini!
ljr
Level 8

sounds like you need to get a corrected 1099-nec

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