The best thing to do is remove the import you currently have completely, then import the new corrected report. It will make sure the complete record is correct.
How to De-Import the 1099
- Navigate to the Federal Taxes > Wages & Income section.
- Go to the summary screen for Investment Income (where you see Dividends on 1099-DIV and Stock or Property Sales (1099-B)). Note how many distinct "Charles Schwab" entries you currently have for DIV and B. (You want to make sure they all get removed).
- Now, go to the top menu bar (outside the main interview window) and click on File.
- Select the option "Remove Imported Data." (Note: This phrasing may vary slightly by TurboTax version, sometimes it’s "Imported Data Summary" or "Tax Import").
- You will see a checklist of all 1099s that have been imported.
- Check the boxes for all Charles Schwab entries listed under 1099-DIV and 1099-B.
- Click "Remove Selected" or "Delete."
After you have confirmed that the "Charles Schwab" summary entries for both DIV and B are gone, you are ready to re-import the corrected data. For a form this large, you must use the standard, direct partner import.
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