Help needed please. Importing my 1099-B's for my two accounts at my E-Trade brokerage results in the BOX A short term gains/losses being incorrectly imported as BOX B and the BOX D long term gains/losses are being imported incorrectly into BOX E. These errors are seen in the Schedule D and in the associated form 8949 entries. Attached are the following relevant screenshots :TurboTax Schedule DBrokerage 1099B statements for account numbers ending in xxx0259 and xxx0649Sample of one of the many Form 8949's that identify each investment sale.Note: This import problem above has no relevance to a separate 1099-B article under investigation '1099-B negative values preventing e-file submissions' as has been suggested in a different thread.

If import does not workthe solution is todelete the imported datause the "I'll enter a summary option" andput the 1099-B amounts in the proper sales categories.

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simonusa0

Level 3

Question

1099-B data imported from Brokerage is assigned to wrong category/BOX(es)

Forum|Forum|5 years ago
February 24, 2021
2 replies
0 views

Help needed please. Importing my 1099-B's for my two accounts at my E-Trade brokerage results in the BOX A short term gains/losses being incorrectly imported as BOX B and the BOX D long term gains/losses are being imported incorrectly into BOX E. These errors are seen in the Schedule D and in the associated form 8949 entries.

Attached are the following relevant screenshots :

TurboTax Schedule D
Brokerage 1099B statements for account numbers ending in xxx0259 and xxx0649
Sample of one of the many Form 8949's that identify each investment sale.

Note: This import problem above has no relevance to a separate 1099-B article under investigation '1099-B negative values preventing e-file submissions' as has been suggested in a different thread.

fanfare

Level 15

If import does not work

the solution is to

delete the imported data
use the "I'll enter a summary option" and
put the 1099-B amounts in the proper sales categories.

simonusa0Author

Level 3

Hi Fanfare,

I am aware of the 'summary' option for the sales. It's not really a solution it is a workaround. That could be my contingency plan if the import issues aren't eventually fixed. However, because I have many lines of disallowed wash sale amounts, I will be required to mail in a statement with specific information about each individual sale per IRS requirements perhaps along with other documentation. I would prefer to avoid that.

Do you know if Intuit Turbotax can work to fix this import problem in the meantime based on the data I have supplied in this post ?

Thank you

fanfare

Level 15

I'm just a regular taxpayer like you, and I have no idea what TurboTax plans to do about all the 1099-B issues causing so many problems.

simonusa0Author

Level 3

FYI - the very latest Tax update available today FPS version 4.3.5 doesn't solve the problem. (I updated Tax, deleted the data, re-imported and checked again)

linaj20201

Level 14

The issue has been submitted and is currently under investigation. Please click on the following link and sign up for an email notification when it's fixed.

1099-B negative

A Form 1099-B is issued to report the proceeds from your stocks and bonds transactions. The transactions will generate either a long term or short term capital gain or loss depends on how long the stocks are being held. The amount will be reported on line 7 of your Form 1040 along with a Schedule D and Form 8949.

simonusa0Author

Level 3

LinaJ

PLEASE STOP Posting a reference to '1099-B Negative'. You did the same thing on my previous post when Turbotax was only partially uploading the 1099-B entries. This reference has NOTHING to do with either of the two issues I posted on this community board and it is very misleading.

Do you work for TurboTax?