TurboTax allows me to import a TXF for a 1099-B (stock sales). I've been doing this for a few years and it's super helpful since I usually have quite a lot of transactions. Unfortunately, there's no direct connection to my broker so I'm stuck with either entering the manually (which is really cumbersome in TT) or importing them as TXF.
Now, TT 2023 itself imports the TXF just fine, showing all the data in the import details correctly. However, on the "Your investment sales summary" page (apparently a "new and improved GUI") it's showing me "Needs Review" for the imported sales:
The top line is the entry I made manually, the bottom one is the imported one. Note that I had to manually enter the broker's name after importing it by clicking "Review" as expected. Also note that the "Type" for the manually entered line is "Stocks, bonds, etc." but for the imported one it's "Other". I haven't found a way to update that field. This is surprising, since importing a 1099B via TXF obviously is about stock so it should be set automatically.
When I then click through "Review", I see the transactions as expected, but they all say "Needs Review":
Clicking into an individual transaction from there, the screen looks like this for the imported set:
However, for the manually entered transactions, there's a whole extra section in the same screen:
I guess that's also OK, since the 1099B TXF does include the information about the sales section.
My question really is: "Has anyone been able to import a 1099B TXF into TurboTax 2023 Desktop without it showing these "needs review" notes?" TT ultimately does let me go all the way through federal and state review and validation to e-file (I haven't yet), so I think this is just a GUI issue.
Here the contents of a sample TXF that produces this issue:
V042
AExcel
D01/30/2024
^
TD
N711
C1
L1
P1 SHARES OF ABCD
D02/25/2023
D03/10/2023
$45
$46
^
Thoughts?
Thanks
Oskar.