In the IRS letter I received they show an amount being reported that is different than what my financial institution has. How can I see what TurboTax pulled in?

[VolvoGirl]

Amount for what?  Interest, Dividends, Sales?   What kind of 1099 did you get?

[chuyin78]

It is the 1099-B. The column that shows the proceeds is a certain amount. For example the cost basis is "$3,733.97" and in the letter from the IRS it says that TurboTax imported the amount as "$3,399". And this is one of 19 examples where each amount that I see is shorted. So my question is where in the TurboTax worksheets can I find how it imported this from them so I can see why it changed all the values? 

[Anonymous]

form 1099-B worksheet.   the alpha-numeric of the import should be green.        

you should also download the 1099-B from the financial institution to see what it has in order to compare to TT and IRS.   

[Bees]

Could it be split between short term and long term shares?

[chuyin78]

I have the Wage and Income Transcript from the IRS website, the section for 1099-B has the $3,733.00 listed as Proceeds, and $3,399.00 is the Cost or Basis. I used the import feature in Turbotax to populate my return. So my question is still how were the amounts mistranslated by the software that it gave the IRS the wrong amount, from the wrong column, as it were.

[macuser_22]

You must always check any imports against your actual 1099-B.   It is up to the financial institution to properly translate their 1099-B data into tax data transfer protocol for import.  TurboTax only populates the forms and fields on those forms according to the coded data provided in the import file by the financial institution.   TurboTax makes no guarantees of the accuracy of imports because the accuracy depends if the financial institution translated it and coded it properly.  Those data files can have errors.  TurboTax has no way to know if the imported data is accurate or not.

Also, if the financial institution had an error on the 1099-B and later corrects it, often the import file is never updated.