Continued 10-99B Import problem

Forum|Forum|4 years ago
April 6, 2022
1 reply
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I've had issues with trying to import into TT from Schwab. I attemped to personally input my info and now find that I'll need to import the 1099-B data.

How do I clear the Step by Step program that asks me to "Update" my file info and open the import portal, so I can attempt the import again?

Kent

TurboTax Business Windows

DavidD66

Level 15

I recommend you delete what you've already entered and then, instead of importing your 1099-B, enter summary totals. To do so,

Click on Search
In the Search Window type 1099-B
Click on Jump to 1099-B
Click Add more sales (if the account you were trying to download is showing, delete it first)
Click on the box with Stocks, Bonds, Mutual Funds and click on Enter
On the Let's import your tax info screen, click on I'll type it myself at the bottom right of the page
Enter your Broker, and click on Continue
On the page with "Tell us about your 1099-B sales for this brokerage account" answer the question about employee stock & the number of sales, etc.
click the button "Enter sales section totals" and click on Continue
Locate your sales section totals on your 1099-B
Enter your Investment Sales Section Totals and repeat till you have entered for each category.

After entering all your sales section totals, Look for "Now we'll help you upload your 1099-B since the IRS requires a copy" and follow the instructions, or you can mail a paper copy of your 1099-B to the IRS. If you want to mail, click on "How do I mail my statement".

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

- A Description
- Date Acquired
- Date Sold
- Sales Price
- Cost Basis
- Gain or loss for each sale
- A based on how the sale was reported to you and the IRS

In some uncommon cases, there will be an adjustment code and adjustment amount.

NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.

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