Question
Can I use GainsKeeper to report mutual fund distributions?
Answer
Currently, GainsKeeper does not accommodate full reporting of your mutual fund distributions. Do not add the mutual fund gain distributions in the Adjust section for completing your Schedule D. If you do, mutual fund distributions will be incorrectly added to line 8 instead of line 13 of your Schedule D. Please review the mutual fund distributions section of the IRS booklet for Forms 1040 or 1040A for further information on your particular situation and reporting requirements.