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ivanlau125
New Member

Chase 1099-B imports incorrect information into TurboTax

I imported my 1099-B through Chase Investments. The investments are all populated, but the information for 8949 detail does not match the actual form. For example, all 8949 Box A transactions are being imported and shown as Box B (basis not reported to IRS). Dates sold are one day off. Box D transactions are being imported and shown as Box E (basis not reported to IRS).

 

I've tried deleting and re-importing, but the results are the same. I don't want to go in and manually adjust for all the transactions. At that point, I could have just manually entered from the start and this defeats the whole purpose of paying for the import function. 

 

Is there a quicker way to change them all at once? Is anyone else having similar issues?

6 Replies
VolvoGirl
Level 15

Chase 1099-B imports incorrect information into TurboTax

Maybe the file it's importing is a corrected 1099 statement.  They usually send out corrected ones.  That's why I always wait to file to see if they send out a new 1099.  I would ask Chase.  Or log into Chase and see if there is a new corrected or Amended 1099 pdf.

Anonymous
Not applicable

Chase 1099-B imports incorrect information into TurboTax

this is an issue not only with Chase but with a lot of other brokers,   Type A are not reported on line 1a (and thus are reported on line 1b and the detail is on for 8949. similarly for long term sales. This has been going on for years.  you can try importing 1000 times and you won't get what you want.   

 

the only way to fix this is to delete each type A's and then enter A total you'll also have to use adjustment code M and adj amount as $0 same with type D's . it is a real pain. because it must be done one by one.  

 

 

 

ivanlau125
New Member

Chase 1099-B imports incorrect information into TurboTax

Thanks - I think the question was misunderstood. 

My 1099-B is reporting that I have amounts on Box A. The import is showing I have amounts on Box B instead. 

The Box B amounts are flowing into Sch D Part I Line 2. 

What I am expecting to see is the import should have reported Box A and with details on the 8949 and total flows to Sch D Part I Line 1b, as you've mentioned.

 

My prior year return imported and reported correctly and I did not have to go in and manually adjust each line item. It was just with this year I noticed the import was not matching the actual 1099-B Form, even with dates sold showing as one day off.

 

I manually downloaded my Tax Documents from Chase website to compare and made sure there was no corrected or updated version.

Anonymous
Not applicable

Chase 1099-B imports incorrect information into TurboTax

i wouldn't bother with the dates.  your only option is to delete the import and reenter manually.  or change the 8949 check box - line 1a - on each one.

 

 

another option is just to enter summary amounts for the various types. you'll need to enter M in line 18a and $0 for 18b.  then you can complete form 8453 checking the 8949 box.  this will require you to mail in  copy of the sales schedule (1099-B) with a copy of the 8453 and follow these instructions:

If you are filing your tax return using an online provider, mail Form 8453 to the IRS within 3 business days after you have received acknowledgement from your intermediate service provider and/or transmitter that the IRS has accepted your electronically filed tax return. If you don’t receive an acknowledgement, you must contact your intermediate service provider and/or transmitter.
Mail Form 8453 to:
Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

fanfare
Level 15

Chase 1099-B imports incorrect information into TurboTax

As an active investor, be aware that your category Box A sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a. No mailing is required.

 

I don't know what's happening with your Import, but if you enter a summary for Box A, it's not going to skip onto Box B.

mk26
New Member

Chase 1099-B imports incorrect information into TurboTax


@ivanlau125 wrote:

My 1099-B is reporting that I have amounts on Box A. The import is showing I have amounts on Box B instead. 

 

My prior year return imported and reported correctly and I did not have to go in and manually adjust each line item. It was just with this year I noticed the import was not matching the actual 1099-B Form, even with dates sold showing as one day off.


I'm having the exact same issue with my Chase Investments 1099-B import this year. Super frustrating, as this is the main reason I pay for TurboTax.

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