I'm late filing a 2018 return that only contains investment income for a dependant and I cannot seem to import his 1099-b from Merrill Lynch. It implies that past years data is not available? is that true?
There are hundreds of lines in his 1099-b that I really don't want to input manually.
2018 data is no longer available for import into your 2018 return. Financial institutions have taken that down to provide 2019 data for upcoming 2019 returns. You will have to get the hard copy and enter it manually. Sorry you waited so long to work on this, but that is the reality.
How to enter a summary in lieu of individual transactions
Your brokerage statements should include a summary of your transactions, grouped by sales category, for example "Box A short-term covered" or "Box D long-term covered". You'll enter the summary info instead of each individual transaction.
- Open your return in TurboTax Online (if it's not already open) and search for stock sales in the upper-right corner.
- Click or tap the "Jump to" link in the search results.
- Answer Yes to both Did you sell any investments? and Did you get a 1099-B?
- If you land on Here's the investment sales info we have so far, select Add More Sales. Then answer Yes to Did you get a 1099-B?
- On the Choose Your Bank or Brokerage import screen, select I'll type it in myself.
- Select or enter your brokerage on the next screen and continue.
- On the following screen (Tell us about...) select the second option, I'll enter a summary.
- On the same screen, enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Done.
- Follow the onscreen instructions to enter additional sales or to view a summary.