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Entering a 1099-DIV cash or noncash liquidation distributions in ProConnect Tax

by ProConnect Tax Online Updated 5 months ago

Follow these steps to enter 1099-DIV cash or noncash liquidation distributions in the program:

  1. Go to Input Return Income Dispositions (Sch D, etc.).
  2. Select Schedule D/4797/etc.
  3. In the Quick Entry grid, select Details to expand.
  4. Under Dispositions (Sch D, etc.), enter the Description of Property.
  5. Enter the date of the basis investment in the Date acquired (negative date=various) field.
  6. Enter the date the corporation was liquidated in the Date sold (negative date=various) field.
  7. In the Sales price field, enter the amount reported in box 9 or 10 of the 1099-DIV.
  8. Enter the known basis amount in the Cost or other basis (do not reduce by depreciation) field.

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