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Short Term Capital Gains misassigned (Wrong tax form)

fulwild

ST CG is assigned to Schedule B/ Dividend income. Q says category not editable. Any suggestions?
thanks

Quicken Mac Home and Business Version 6.11.3 (Build 611.47347.100) macOS 13.2

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Comments

Mark1104

why do you want to edit it?

MontanaKarl

@fulwild
Seemed like a bug to me... but QWin does the same... so I looked at the IRS docs... The clarity is in QWin where the category is called Short Term Cap Gain Distributions. The IRS says:

"Distributions of net realized short-term capital gains aren't treated as capital gains. Instead, they are included on Form 1099-DIV as ordinary dividends."

in this pub:
https://www.irs.gov/instructions/i1040sd#en_US_2022_publink24331id0e249

This category would be used by, e.g., mutual funds, ETFs, etc for which a portion of the income received was a ST Cap Gain Dist. It would not be used for a short term capital loss resulting from the sale of a security (which would go on Schedule D).

Mark1104

that is why I was asking. Short term capital gain DISTRIBUTIONS are reported on Schedule B as a dividend. short term gains or losses (which are NOT 'distributions) are indeed reported on Schedule D... trace the details of your broker statement to the 1099-DIV form....

It is not a bug. Quicken is correct.