How to handle Combined 1099’s?

[randyw57]

My wife and I have accounts at Fidelity.
We get ‘Combined 1099’s’ for those accounts.
TurboTax wants to process the forms by type. 1099-INT, DIV, B. etc. 
I find it difficult to figure out what account TT is trying to work with. The account # isn’t displayed with the extracted info.  Plus TT seems to only let me get my forms or my wife’s forms. It doesn’t want to pull them all down at once

Any suggestions on a good way for me to process these?

Thanks for any help or advice!

[GeorgeM777]

We need you to clarify and provide some additional information to better understand your tax situation.  Are the accounts you have at Fidelity joint accounts?  Are you filing Married Filing Jointly?   If you have separate accounts, i.e., each account has its own account number, TurboTax will probably download one account at a time and then combine all the transactions on Schedule D and/or Form 8949 as applicable.   

@randyw57 

[randyw57]

Hi, GeorgeM777!

1. One Joint Account. We each have Individual ‘Investment’ account, an IRA account, and a Roth IRA account. 

2. We have always filed Married/Joint.

3. Yes, my experience is TT combines the information just fine. This is really a question about ‘entering’ the data.

4. Sort of an example: TT seems to want to do all the 1099-DIV’s at once. I have it do the downloads directly from Fidelity. Then it pulls up the first DIV. I see some of the dollar amounts. But I can’t see an account number or the name of the owner. The TT app on the iPad doesn’t allow Split View. Which makes hunting for the info even more challenging. 

5. So I’m wondering if maybe I’m just approaching this the wrong way. And there is a more efficient way to get the info into TT.

Thanks for the help!

[fanfare]

" Plus TT seems to only let me get my forms or my wife’s forms. "

You would have to do it in two steps, in which case you know which one you are doing, I hope.

unfortunately, users have reported that the import process can't handle two spouses using the same financial institution, in some cases. It depends on how you log in

@randyw57 

[randyw57]

Thanks, fanfare!

1. No issue with having to login for two different SSN’s. My wife also has multiple accounts. Same issue. When TT starts on a 1099-DIV for my wife it takes some effort on my part to figure out which one of her accounts the info is connected. And the reason I have to figure that out is because TT doesn’t fill in all the info from the form. So I have to manually enter it. 

2. For my mind it is simpler to work on all the forms from a single account at one time. What I did was start with my investment account. Did the DIV. Imported the pdf from my iPad. Then did the INT. Import again. Repeat until done. However, the 1099-B’s require a lot of manual entering. Importing them from my device is just faster than doing the TT generated login at Fidelity. And I can keep things straight like this. 

[SteamTrain]

@randyw57 

Yeah...it can get confusing when two accounts are involved.

What I do is save the Fidelity Consolidated 1099 PDF forms from each account, and print them out ( I end up storing the printouts with my tax file).

Then I work thru my downloaded 1099-DIV, 1099-INT...etc with the paper forms in front of me...and then it's obvious which I'm working on......as the initial numbers in the boxes will match up with one formset or the other.  

[randyw57 · Accepted solution]

Hi, SteamTrain!

Your workflow is very similar to mine. 

And I keep a ‘master’ list of all my forms in Notes as a check off list.

As I complete each account/form I check it off on the paper form and in my Notes.

[DDB52]

TT does not seem to permit downloading financial data for multiple users (eg. husband and wife) from a variety of financial institutions, including Wells Fargo and Fidelity.  It consistently provides an error message that the username or password is incorrect for a second download attempt (first account download works fine).   This occurs despite correct username and passwords being provided.  There must be a programming issue with Intuit for so many users having the same issue.  Any suggestions on how to remedy this problem?

[SteamTrain]

Yeah...they do..but you apparently have to jump thru hoops.

For Online TTX software.

Various convoluted workarounds have been reported...including logging off TTX and deleting all cookies/history/cache etc, such that the original UserID/Pwd gets trashed and has to be entered again...but this time the second account.   (Might also work if you log out of TTX, and then go to a different computer to re-login to TTX...but I can't know if that works).

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For desktop users....might work if you first log into the correct Fidelity account (or WF account) in your default browser, before attempting to import the files.  Guessing though.

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OR...Customer Support, they might have worked out the correct process by now (but a full software fix would be better)

What is the TurboTax phone number? (intuit.com)