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New Member

I can't access my stock transactions from Bank of America/Merrill Lynch

 
7 Replies
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Level 2

I can't access my stock transactions from Bank of America/Merrill Lynch

You may be able to import directly in product by logging in to your BoA/Merril Lynch account.

If not- you can manually enter your 1099 form- do you have the paper copy or can you access it directly from the BoA/Merril Lynch Website?

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New Member

I can't access my stock transactions from Bank of America/Merrill Lynch

i am trying to import the data as there are many transactions and i have been unable to do so.  
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Returning Member

I can't access my stock transactions from Bank of America/Merrill Lynch

I can't access my tranactions from BOA / Merrill Lynch account.  BOA ID and pw seem to work, but then when I enter Code, it does not work.

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Expert Alumni

I can't access my stock transactions from Bank of America/Merrill Lynch

It depends. Having a password for the app to connect to TurboTax often resolves the import issue.

 

If your code is not working, click this article: My code doesn't work.

 

For more details, see:

What is a service code?

How do I import my 1099?

Does my device meet system requirements?

 

If your institution has a discount, click the link for more information.

How do I get my TurboTax affiliate partner discount

 

@dana-craig1

@BWJ1

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Level 7

I can't access my stock transactions from Bank of America/Merrill Lynch

dana-craig1,

 

I certainly hope the tax expert's reply gets you through the hurdle for I certainly feel your pain.

 

You may not be aware, but the IRS allows and even encourages reporting the bottom line totals of the various stock and bond sections of a 1099-B.  This is allowed according to IRS Instructions for Form 8949 (https://www.irs.gov/pub/irs-pdf/i8949.pdf) when:

 

" Exception 1. Form 8949 isn't required for certain transactions. You may be able to aggregate those transactions and report them directly on either line 1a (for short-term transactions) or line 8a (for
long-term transactions) of Schedule D. This option applies only to transactions (other than sales of collectibles) for which:
You received a Form 1099-B (or substitute statement) that shows basis was reported to the IRS and doesn't show any adjustments in box 1f or 1g;
The Ordinary box in box 2 isn’t checked;
You don't need to make any adjustments to the basis or type of gain or (loss) reported on Form 1099-B (or
substitute statement), or to your gain or (loss); and
You aren’t electing to defer income due to an investment in a QOF and aren’t terminating deferral from an investment in a QOF.
If you choose to report these transactions directly on Schedule D, you don't need to include them on Form 8949 and don't need to attach a statement. For more information, see the Schedule D instructions."

 

We did this frequently last year when assisting taxpayers through the free IRS Volunteer Income Tax Assistance (VITA) program.  

 

In my case this year I got a 185 page 1099 from my bank/broker managed account and it wasn't an option to import or summarize on Schedule D.  I worked around it by downloading the PDF 1099 and using copy-paste into an Excel spreadsheet so that I could add up all the little dividend reinvestment purchases and report them with a purchase date of VARIOUS and the appropriate holding period and basis report.

 

Good luck!

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Returning Member

I can't access my stock transactions from Bank of America/Merrill Lynch

Thank you for your suggestions!

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Returning Member

I can't access my stock transactions from Bank of America/Merrill Lynch

Thank you.