Form 1099-B Issues in Federal Review (Check this Entry)

[Harris_4]

I have run into a lot of issues with transferring over my 1099-B and 8949 form. I have gotten 2 different screens.

1.) Cost/Basis was reported... Do not enter for... XYZ...

2.) Holding Period applies only to... Do not enter for XYZ...

I see a window below, but it only displays information for two different stocks, and I have no idea which stock they want me to review. Is this a bug? Do I just unclick the "Cost/Basis was Report" box, and how do I know in that situation? How do I know which stock and purchase they are refering to for the "Holding Period?"

Thank you.

[Antonio90]

I'm having the same issue, went back and reviewed all my entries for correct box checking, it was uploaded by Robinhood.. still can't efile have you found a solution?

[DavidD66]

I can't help you with the download if it's not working properly, but I can give you an alternative that is better than manually entering each transaction.  You can enter summary totals for each asset sale category.  It will require you to mail a copy of your Form 1099-B along with Form 8453 (which TurboTax will generate).  To do this in TurboTax Online:

• Click on Search
• In the Search Window type 1099-B
• Click on Jump to 1099-B
• Click + Add an Account (if the account you were trying to download is showing, delete it first)
• Answer Yes to "Did you get a 1099-B or a brokerage statement for these sales?"
• Click on "I'll type it in myself"
• Select your Bank or brokerage and click Continue
• On the page with "Tell us about your…. 1099-B" click the button "I'll enter a summary for each sales category"
• Enter your Investment Sale information and repeat until to you have entered for each category.

After entering all your category summaries, Look for "To finish reporting these sales, follow the mailing instructions" and click on the link for these instructions:

Mailing Instructions

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

 - A Description

 - Date Acquired

 - Date Sold

 - Sales Price

 - Cost Basis

 - Gain or loss for each sale

 - A sale category based on how the sale was reported to you and the IRS

In some uncommon cases, there will be an adjustment code and adjustment amount.

NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453 to:

 Internal Revenue Service

 Attn: Shipping and Receiving, 0254

 Receipt and Control Branch

 Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.

* The questions you are asked by the program may vary depending upon what, if anything, you may have already entered related to investment sales.

[wdbreazy2089]

@Harris_4 Also, could be an issue with the 1099-B import. On mine, the import added sections that aren't reported to IRS when importing from Robinhood, causing numbers to be off when TurboTax was wrapping up. Literally, one transaction. It then wanted to make me walk through every entry to verify it is right to make sure my numbers added up. If there is a section of your 1099-B that is Not Reported to the IRS, make sure on the import that TurboTax did not accidentally add this to your list. I deleted the one transaction that was not suppose to be on there, and boom. Problem solved. I had to delete one transaction at the very end of my 10 pages of transactions to remove this error. Hope this helps! Saved me HOURS.

[Anonymous]

I did the same. I reached out to both Robinhood and Turbo. They pointed the finger at each other. Big surprise. In this case Robinhood's file push appears broken. Using Robinhood has proven to be more trouble than its worth so far. 

[mtheam12]

I'm having this issue too. I imported my document from TD Ameritrade using my account number and doc ID and get to the review stage, then it tells me to fix my return and the page becomes unresponsive and buggy, I know one solution is to manually update your transactions, but I have 190 and that would be very tedious, its been about 3 weeks and this bug persists, are we going to get any attention.

[Antonio90]

It took me a while and finally I got a support person (3rd try) who knew how to fix it because she also had robinhood, it was a real miracle to me. But to be honest I had such a headache that I can't remember the process but it was either you kept them all checked and kept hitting next even though it seemed repetitive, or you unchecked each one. I want to say 

[carlsr007]

Tried and tried to fix this form and no joy. Sad this product has such a easy form to check yet it holds up the filing even though the form shows it is filled out correctly. I went to the chat and have to wait for such a simple answer. Fix it just fix it.

[scispeak]

I am still having this issue a year later. Seriously? Fix your software!!!

[Speaker]

While your workaround suggestion might solve the issue, it goes against the reason we purchased TurboTax. We want it to accurately download data from our banks and brokerages without having to make manual entries.

[Speaker]

That sounds helpful.  I will try it.

[tekandtax]

Having the same issue for the first time this year with Fidelity.  TurboTax may want to look at the issue as something on their end.  

[puls]

I have 750+ transactions from WeBull / APex Clearning in 1099-B, 500+ from Personal Capital / Pershing and have the same issue.  Its painful to go through each one to select sale category - Box A or Box D. Most are Box A, but they should allow bulk update. And its so slow after such heavy import. 

Come on TURBOTAX - FIX YOUR PRODUCT. At this rate, I will have to finally give up on Turbotax and try some other product or a proper CPA. 

I have found a work around to go in the forms view and do it a bit faster , but its still one by one.

[buzit]

I have a similar problem with my 1099-B.  Turbo Tax was not able to downloa (from my brokerage firm) the entire form, i.e. the date of sale was not listed.  I have 8 pages of short and long term covered securities.  The download should have been able to view the entire 1099-B ,yet instead I would have spent all day entering each and every beginning purchase to get the cost basis etc..  After speaking twice to Turbo Tax and also calling my brokerage, I finally gave up - printed out what Turbo Tax had and made a copy of my 1099-B to attach to my return.  This problem needs to be addressed and corrected!

[buzit]

Your advice would be alright if I only had a few sales to report but I have 8 pages of them and it would take hours to enter each and every sale date.  For me copying the 1099-B and sending them along with the rest of Turbo's report was easier to do.  But the problem still remains and should be addressed if any of us wants to continue using Turbo Tax next year!