IMPORT OF FIDELITY DATA WILL NOT PULL IN BOTH MY WIFE AND MY OWN 1099-R (CD version Home & BIZ)

[pyrotecnico]

On top of the insane lack of security for logging into Fidelity - AND it's inability to properly import and then handle more than 1, 1099-R, there a number of bizarre errors in calculations within the 'flow' from one screen to the next. 

Right after manually inputting the last of our 10, 1099's (we are retired, and get a lot of these some big, some small ) ... something that last year took all of 30 mins to complete vs 4 hours today!  ...   the screen jumped to my originally imported Fidelity 1099-R with a whole set of different questions I've never seen before and are unrelated to the 1099-R I had just manually entered.  

This is the most bug-ridden TT I have EVER Seen in my 20 yrs of using TT.  So many errors that had to be manually adjusted. And way too many issues to properly list here.   

There's No Way I'm submitting my return for another couple weeks as I feel obligated to review at least 2 more times.  So frustrating.  nd no real way to get this to the right (technical) TT people to get these issues resolved.

I just don't understand why they had to screw so much with this program.  

[mj007mj]

This did not work for me.  Help me TT!!!  I can't download my wife's documents from Fidelity.  I'm using the download version of TT Premier.

[pyrotecnico]

At the risk of sounding like some of the other 'Experts' ...

If all you need is the Fidelity Tax Docs ,,, just logon to Fidelity itself (don't use the TT product at all) and look for 'Documents'. 

Then click thru to Tax Documents.  It should list all the Fidelity Tax related Docs like 1099's and Consolidated Statements.   You can then download the PDF documents.  As long as they are not too numerous (like no more than 4 or 5), you can then just enter the info manually into TT.  But if you have a lot of transaction - this solution royally sucks.

[JL-808]

I think Turbotax got updated. Now it does allow me to import 1099-DIV and 1099-B for different taxpayers in my family. I don't know if all the other related issues other users encountered still exist since I didn't go any farther yet, but at least I don't have to manually type in every sale entry from 1099-B, which would be absolutely absurd (as others stated). Try it out today and see if the import works for you. Good luck.

[mj007mj]

Thanks but this issue happened today, right before I posted this issue.

[Critter-3]

You can quickly enter this manually.  Your brokerage statements should include a summary of your transactions, grouped by sales category.

There are seven possible "Box" designations that indicate the holding period (Long/Short Term) and the reporting status.  These are the only ones you have to summarize. If you want to manually enter your 1099-B as the summaries.

1. Tell us about your 1099-B sales for this BOA account
1. Answer the questions
2. Since you have more than a few BOA sales, we recommend entering sales section totals
1. Continue
3. Before entering sales section totals, take a moment to find them on your 1099-B
1. Continue
4. Now, we'll enter one sales section total on your BOA 1099-B
1. Use the drop down menu to select the correct designation.

Code A. This code indicates a short-term transaction for which the cost or other basis is being reported to the IRS. Use this code to report a transaction that the recipient will report on Schedule D (Form 1040), line 1a, or on Form 8949 with box A checked with totals being carried to Schedule D (Form 1040), line 1b.

Code B. This code indicates a short-term transaction for which the cost or other basis is not being reported to the IRS. Use this code to report a transaction that the recipient will report on Form 8949 with box B checked with totals being carried to Schedule D (Form 1040), line 2.

Box C. Report on a Part I with box C checked all short-term transactions for which you can't check box A or B because you didn't receive a Form 1099-B (or substitute statement).

Code D. This code indicates a long-term transaction for which the cost or other basis is being reported to the IRS. Use this code to report a transaction that the recipient will report on Schedule D (Form 1040), line 8a, or on Form 8949 with box D checked with totals being carried to Schedule D (Form 1040), line 8b.

Code E. This code indicates a long-term transaction for which the cost or other basis is not being reported to the IRS. Use this code to report a transaction that the recipient will report on Form 8949 with box E checked, with totals being carried to Schedule D (Form 1040), line 9.

Box F.  Report on a Part II with box F checked all long-term transactions for which you can't check box D or E because you didn't receive a Form 1099-B (or substitute statement).

Code X. Use this code to report a transaction if you cannot determine whether the recipient should check box B or box E on Form 8949 because the holding period is unknown.

Open or continue your return (if it's not already open) and search inside TurboTax for the phrase stock sales.

1. Select the Jump to link in the search results.
2. Answer Yes to both Did you sell stocks, mutual funds, bonds, or other investments? and Did or will you receive a 1099-B form or brokerage statement for these sales?
• If you land on Here are all your 1099-B sales, select Add sales from a different brokerage. Then answer Yes to Did or will you receive a 1099-B form or brokerage statement for these sales?
3. When asked how you want to enter your 1099-B, select I'll type it in myself.
4. Select or enter your brokerage on the next screen and continue.
5. On the following screen (Tell us about...), answer the questions until you reach the next screen. Select the second option, Let's enter a summary instead, and select Continue.
6. You'll now be able to 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 Continue.

When you are done, you'll eventually come to the Here's a summary of your broker sales screen where you can edit, delete, or enter more sales.

You will have to mail a copy of your 1099-B to the IRS.  TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it. 

IRS requires details to be listed on a Form 8949,
or on your other forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.(unless you have attached a PDF of the transactions details to your e-Filed return. TurboTax seems to be adding this feature now).
Only Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.
If you don't have a 1099-B from coin base (crypto) your sales category is C or F.

There is no exception for these categories.

[mj007mj]

Thanks but I should not have to do all of that manual work.  That's why I bought the Premium package.  TT should ask each time which taxpayer is importing and this process should be seamless.

[CarissaM]

One of our users @RichieR1  has a great workaround to import using multiple accounts here. Please try this, to see if it works for you. @mj007mj 

[mj007mj]

OK.  This worked.  

Please have TT fix this for next year.  When importing, the program should always ask Which Person.

[fernabrams]

I have the same problem.  We both have accounts at fidelity and no matter what  I do or select it just keeps pulling down my data. Again and again and again.  Nothing I do will give me an option to get my husbands data.  

[Elinor]

I have the same problem with TT.  I get a blank white screen to put in the Intuit password but it never populates. I undid all my pop up blockers and tried every browser and nothing works.  I am actually trying to download 1099 B and there are many areas - download is why i have Turbo tax. :(  very disappointed

[pyrotecnico]

That is ridiculous and just plain wrong! 

How do you 'skip' the login step to my brokerage account at Fidelity? 

The first time I tried the import, it needed both my TT AND Fidelity logins.  Then when I found it did not correctly import my AND my wife's 1099's (it used to do this just fine for the past decade!) - I tried to import again - but then it didn't need any login info.  then shut down both TT (without saving the imported info) and rebooted my PC.

Got back to the TT Import screen - and then it went straight in to Fidelity and imported my info (but still skipped my wife's 1099)  - but it never requested ANY  login!

Fast forward to the next day - I tried the import and this time the Fidelity Login screen appeared. 

Besides the apparent weak security by TT - why in the world the software does not import all the 1099's is ridiculous.  And don't tell me 'just manually add it'. That's the **bleep** point of using TT's Import!

There are BIG problems with the Import function - all brand new - and it better get fixed or my 17 yrs of using TT will come to an abrupt end. 

[pyrotecnico]

Furthermore - you MUST be saving my (and all Users) actual Fidelity login info - otherwise how does Fidelity know who I actually am?  My login for TT sure isn't my login for Fidelity. 

And no way Fidelity is allowing the 'creation' of some kind of 'unique' (different) Login data that only connects my Fidelity accounts with TT. 

REPLY to this please on exactly what TT is doing to connect with Fidelity and specifically how Fidelity then  knows /how to securely send my financial data to TT.   

I will then call the Fidelity  Digital Team to ask them if what you tell me is true.  Fidelity makes a big friggin deal about all their security features - and what TT is doing is NOT secure.  One hack of TT and millions of TT user's info gets stolen.  

[bobpickering]

Pyrotecnico originally reported that TurboTax 2022 would not import his wife’s Fidelity tax forms.  The discussion over the last 10 days makes it clear that the real problem is that TurboTax was accessing Fidelity tax forms without ever asking for Fidelity login credentials (Username and Password).  If it never asks for any credentials, you never have the opportunity to enter your spouse’s credentials, so you can’t import your spouse’s tax forms.  Many people, including pyrotecnico and me, have reported the same problem.

TurboTax easily imported my tax forms from Fidelity, even though I had NEVER entered my Fidelity credentials into TurboTax 2022.  My Fidelity Username is not based on my name, SSN, or any other information in my tax return.  TurboTax must have saved my Username (and almost certainly my Password) from 2021.  If this is not the case, will someone from Intuit please explain how TurboTax accessed my Fidelity accounts and imported my 2022 tax forms?

Experimenting as db9fan suggested eventually got TurboTax to ask for credentials, as it should.  There have been updates to TurboTax since this thread started.  Today, I created a dummy return, transferred my 2021 data to it, and then imported my Fidelity tax forms.  It correctly asked for my credentials.  It may be that the problem is fixed.  However, I still want to know how TurboTax accessed my tax forms without credentials the first time, and why I should believe that Intuit isn’t still saving my credentials indefinitely.

Finally, pdenby (a “Returning Member”, not an “Employee TurboTax Specialist”) appears to represent Intuit, denies that Intuit saves login information, says that “you will have the option for easy import of your information WITHOUT THE NEED FOR LOGIN CREDENTIALS”, and then finishes with “Hope this helps alleviate any security concerns!!!”  Nope!  That post convinces me that Intuit is a serious security risk.  Intuit, please respond!

[pyrotecnico]

Thanks for 'confirming' I'm not the only one with major questions about TT's potentially monster size Security problem!  (Including the strangely misleading comment by pdenby trying to they Rep TurboTax).

In a couple weeks I plan on creating a dummy return (like you did) to test out the Import function again to see if the Import function has been fixed (both  the ability to Import my and my wife's Fidelity 1099's and especially the Login Security issue).  I will report back afterwards.

BUT, in the meantime, I've sent an internal message to Fidelity regarding what appears to be a huge security issue.  As I've been with Fidelity for 40 years - and have a significant amount of $$$ with them - I expect a response pretty soon. (I specifically requested their 'Digital Specialist' Call me.)  I'll also report back here after I hear from them.