Brokerage import from Vanguard not showing detail only totals

[JackDaniels]

I imported Vanguard Mutual Funds and Brokerage tax data. Mutual funds loaded correctly, however, after importing brokerage data the total shows correctly but it does NOT include the detail 1099 data on my return. I converted to the new vanguard platform last year and that is why I need all the data to complete my return.  I tried delete and reimporting but there was no change. 

[SteamTrain]

Depends on what details you are looking for.

Totals for a 1099-DIV and 1099-INT (generally) go in without any details.   The details for those are mostly for your information only so you can see exactly what contributed to each total.  The capital Gains distributions reported in box 2a, are reported there only and do not need any further entries by you.

IF you think you need actual form 1099-B/8949 for the sales of stocks or sale of Mutual fund shares you owned...then yeah, those need to be in there...but only for things you actually sold, not for transactions that happened within a Mutual Fund.  IF you had some of those transactions, then you need to Call Vanguard and inquire about them to see if they were missed, or are coming out at a later date.

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Where the Supplemental Details for your 1099-INT and -DIV do help, is if you have significant $$ amounts in box 8 of a 1099-INT, or box 11 of a 1099-DIV.  Those details can be used by you to break-down the $$ amounts that came from your own state's bonds, and (potentially) get some reduction in your own state's taxes.  But, you have to calculate the sub part of box 8 of the -INT, and box 11 of the -DIV that came from your own state...you have to calculate the amount....otherwise you have to designate those boxes as just "More than one state".  $$ in Box 8 of the -INT can always be broken down if some was from your own state's bonds.  For $$ in box 11 of a -DIV, it depends on the state...some states only allow a breakdown if the Mutual fund involved held a certain minimum % holding in your state's bonds.  Illinois doesn't allow it at all (if I recall properly) .

[JackDaniels]

Hi, thanks for your input.

Maybe I wasn't clear on what I was expecting? Anyway, when I imported the mutual fund data TurboTax shows the total amount but also created a 1099DIV for each fund reported by Vanguard. When I imported the Brokerage data from Vanguard TurboTax shows the total but did not create a 1099 for each fund. As an example, under Mutual Funds I had 10 months of dividends for a bond fund. After I converted to their new Brokerage platform I had 2 months of dividends for the same fund. TurboTax did not create a separate 1099DIV for the same bond fund. Consequently, my tax return does not include the full amount of dividends that will be reported to the IRS. 

[JackDaniels · Accepted solution]

Duh, my error.

I see that TurboTax did create a single 1099DIV form for all the funds under their Brokerage Account, that does match what Vanguard provided on their Consolidated tax statement. I was expecting to see an individual 1099DIV for each fund.

Sorry for the confusion, Thanks!

[SteamTrain]

You might have to call them and ask about that . 

I seem to recall that under the old system, Vanguard did create separate -DIV forms for each of their mutual funds, when holding separate mutual funds.   thus, 5 mutual funds in the old account would have 5x1099-DIV forms.   (but I'm not a Vanguard Customer)

But once they convert to a brokerage...then it is certainly possible there is just one 1099-DIV (and details in a Supplemental Worksheet on their PDF forms that are created separately), since it can be handled all as one for tax reporting.   That's the way my Fidelity brokerage works....I several Mutual Funds, and stocks an such...all just goes as one total on the year-end 1099-DIV.   No extra paperwork. 

Ask Vanguard....or maybe another vanguard customer with more info will notice this.

[SteamTrain]

OK...posting at the same time....OK now???