This year, for the first time I can recall, when I told Turbo-tax to import everything from Merrill, it omitted to import my 1099-R
Obviously, something has been "fixed" that was not previously broken. I'd like to know what, and in particular, which of the two companies decided I and others would prefer to type the information in manually.
Here are the possibilities I see:
- Merrill neglected to include the information in the download bundle
- Merrill "improved" the format such that Turbo-tax couldn't understand it
- Turbo-tax forcibly separated importing brokerage transactions from importing retirement income, and I'd need to go to some other screen to import the 1099-R
-Turbo-tax "improved" the format, and no longer supports "outdated" formats such as the one used by Merrill
- Merrill has a bug - i.e. they broke something without intending it or believing it to be a value add
- Turbo-tax has a bug - i.e. they broke something without intending it or believing it to be a value add
This matters to me because:
1) If it's a bug, I can hope it might be fixed for 2025
2) If it's a turbo-tax "improvement," I can vote with my feet by moving to their competition for my 2025 taxes.
3) Unfortunately if it's a Merrill "improvement," it's not severe enough to push me to switch brokerages, but I can at least make a big stink about it.
Does anyone have any idea how this regression came to be introduced?
1) has anyone imported a 1099-R from Merrill this year? Have they imported it along with other brokerage related tax forms, perhaps to something other than Turbo-tax desktop? Did they have to use 2 separate steps?
2) had anyone imported a 1099-R into Turbo-tax, in one step, along with other brokerage related tax forms, from some other broker?
Thanks in advance for any information you might have.
This "improvement" delayed my taxes by approximately 3 days, as I mistakenly guessed that the brokerage had simply neglected to take my mandatory withdrawal from this IRA.
