Is TurboTax correctly importing 1099-B brokerage information? My 1099-B has both option and stock transactions, yet TurboTax says they are all Stock trades.

[bernard-dehmeltj]

I imported a 1099-B from a major brokerage firm.  In the review cycle I then had to review many transactions, and I found that they were all shown to be Stock transactions instead of a mix of Option and Stock Transactions.  I had to manually change those entries to pass the review.  It seems either the brokerage house or Turbo Tax has something very wrong.  My basic point is that if a trade is an option trade, Turbo Tax should (must) I would think show it as an option trade and not a stock trade (or am I missing something obvious)?

[Mike9241]

Turbotax probably doesn't know one from the other and it doesn't matter.  all get reported on the same form.

[fanfare]

TurboTax could know using AI to parse the 1099-B but it doesn't do that mainly because the import gives different data points.

Options settle in one business day and can expire unlike stocks.

Otherwise they are taxed the same way.