topic Importing 1099 from Goldman Sachs is not complete in Get your taxes done using TurboTax

Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Fri, 24 Jan 2025 02:03:41 GMT

I was able to import some data from the 2024 "1099" from Goldman Sachs - but not all accounts were imported.

The import to TurboTax grabbed my interest from my online savings account correctly but from only 1 of my 20 certificate of deposits I have with Goldman. The 20 CDs all have unique account numbers. So, 19 accounts (CDs) that I earned interest on in 2024 were not imported into TurboTax.

Do you suspect I did the import incorrectly? I did phone Goldman Sachs but they were unable to provide me with any clarification.

Re: Importing 1099 from Goldman Sachs is not complete

Miss MCJ2 — Fri, 24 Jan 2025 02:14:51 GMT

Other users are having issues with 1099 forms this year, If you import, then go over the forms thoroughly and be sure everything is correct. You can also enter the 1040 manually.

Re: Importing 1099 from Goldman Sachs is not complete

mesquitebean — Fri, 24 Jan 2025 02:42:35 GMT

@ Jonathan1

I'm asking this out of curiosity. Have you looked at a PDF or hardcopy printout of your 1099-INT from Goldman Sachs?

If so, does the first page end with CD #1, and is the second page an interposed page of text information, before the other CDs continue on the third page? The reason I ask is because in previous years Ally Bank has had a problem with importing because that text page in the middle of it appears to disrupt the import file. I realize Goldman and Ally are 2 different financial institutions, but am curious if the same phenomenon may be occurring. I know that in previous years some users have had trouble with Goldman Sachs, too, but I don't know if it's the same cause.

@ SteamTrain Do you have a comment on this?

Re: Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Fri, 24 Jan 2025 03:09:08 GMT

Yes, exactly as you describe. There are several lines of text after the information for the first CD is listed. After that first CD, the other CDs don't have such text.

Re: Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Fri, 24 Jan 2025 03:18:03 GMT

Yes, will do that. Thanks for the reminder. When I downloaded the 1099 from Marcus (Goldman Sachs) it was a PDF file. I was hoping there would be other file type options to select - such as Excel so I could more readily add up the various interest in a spreadsheet. I was able to export the PDF to Excel via Adobe Pro and that facilitated adding up all the accounts.

Re: Importing 1099 from Goldman Sachs is not complete

Mike9241 — Fri, 24 Jan 2025 06:13:36 GMT

Contact GS. Some accounts may not have the 1099s ready for import. Sometimes, the forms won't be ready until mid-February or even later

when importing always check against actual forms. some things do not import.

Re: Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Fri, 24 Jan 2025 15:07:29 GMT

Thank you Mike. Appreciate the reminders.

Re: Importing 1099 from Goldman Sachs is not complete

baldietax — Fri, 24 Jan 2025 17:18:53 GMT

just tried it tho I normally just manually input, and sure enough it doesn't work, only does the savings and first CD account which happen to be on the first page of the 1099.

also it will create a line item for each account on your Schedule B which isn't necessary.

either way it's simpler to just manually input a single 1099-INT for Goldman Sachs with the total - tho annoying you do have calculate that, Goldman does not provide a summary total on the 1099-INT.

Re: Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Fri, 24 Jan 2025 18:00:33 GMT

Thank you for confirming. I am in total agreement with your findings. In this instance, much more efficient to add it all up and enter to TT. I, too, would have desired that at the very least a summary total by Marcus/Goldman would have been included in their statement. And, the ability to save the Goldman Sachs document as an Excel or other spreadsheet file document. I was able to convert the PDF and that helped me.

Thanks for your follow-up.

Re: Importing 1099 from Goldman Sachs is not complete

DrewJP — Sat, 01 Feb 2025 15:26:55 GMT

I had the same experience. The auto import feature doesn't work and had to manually enter it. I can see this being a cause for confusion, resulting in underreported income.

Re: Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Sat, 01 Feb 2025 18:10:40 GMT

Thank you for letting me know I was not the only one to experience this.

In my situation, and maybe yours too- I had many certificates of deposit (over 10) and that seemed to contribute to the issue. As mentioned, the import captured the first CD but not the interest on the CDs after it because it seems to be related to how the statement was "formatted".

Re: Importing 1099 from Goldman Sachs is not complete

sregnier50 — Thu, 20 Feb 2025 03:18:01 GMT

I found the same to be true. Looking at the paper copy of the 1099 from Goldman Sachs, page 2 is the back of a page where they list the Instructions for the Recipient detailing each box on the form. If the importer program was smart enough, it could ignore that information. (What can Intuit do to make it smarter?)

Otherwise Goldman needs to follow the guidelines that makes this works.

I don't know which is the case, but getting it coordinated so that it works (Intuit and Goldman) would be nice.

For now - IBM - It's Better Manually!!

Re: Importing 1099 from Goldman Sachs is not complete

Jonathan1 — Thu, 20 Feb 2025 14:49:48 GMT

Agree with you 100%.

And, maybe a warning alert from TurboTax and Marcus:

"WARNING: If you have more than one CD with Marcus, do not use the import function because we do not plan to correct this and we have no quality team reviewing this. Thank you for your patience. Please enter all CD information manually as if this was 1985."

Re: Importing 1099 from Goldman Sachs is not complete

choll — Tue, 15 Apr 2025 05:46:12 GMT

I'm having exactly the same problem importing from Marcus GS; only the first page on the 1099-INT is imported and not the rest. Good thing my wife noticed. NOT GOOD TT! 😖

Re: Importing 1099 from Goldman Sachs is not complete

baldietax — Tue, 15 Apr 2025 10:55:45 GMT

wow this issue goes back 3 months, wonder how many people mis-reported their 1099s. TT did a bunch of import fixes a few weeks back I would have thought this would be fixed.

replied to the other thread but at this point just enter the 1099-INT manually, it's usually straightforward (and quicker than all this importing imo - avoid PDF upload also) - not sure what TT version you are on but you should see a function to add new investment, "skip this import" and then enter the information. Unless you have some state requirement for more info on the 1099 all you need is a payer name and Box 1 (or others with amounts) - all the other payer information (address, TIN etc) is not needed for filing.

and just the total for each box you don't need to enter each individual account/CD etc. Marcus is super annoying that they don't provide this, most banks do the math.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-form-1099...