topic Why would all of my transactions imported from my financial institution be flagged as needing review? in Get your taxes done using TurboTax

Why would all of my transactions imported from my financial institution be flagged as needing review?

nflom1 — Tue, 03 Feb 2026 10:40:11 GMT

Re: Why would all of my transactions imported from my financial institution be flagged as needing...

NicolleR1 — Sun, 16 Feb 2025 15:43:18 GMT

Having stocks that are flagged and need review it's because they might have missing information that either wasn't imported properly or aren't easily located within your documents. Some of these missing information could be: Cost basis, proceeds, date acquired, date sold or, description. With a copy of your Form 1099-B you can check one by one to make sure the information that was imported is correct.

If you have more than 25 transactions that need to be reviewed, you might want to enter them as a sales summary instead of fixing them one by one. Below is a link on how to remove those transactions and instead input them as a whole summary

How do I fix multiple “Needs Review” transactions?

Re: Why would all of my transactions imported from my financial institution be flagged as needing...

nflom1 — Tue, 18 Feb 2025 16:32:27 GMT

All of my transactions were imported as 'stock (non-employee'), even though most are mutual funds. I don't know if this is part of the problem. The 'learn more' for this field indicates that each investment type is represented by a corresponding icon with the forms associated with each investment type (where??? - I can't find any icon). The only clue that I have as to why all of them were flagged for review is that the box that says 'The cost basis is incorrect or missing on my 1099-b' is kind of an orange color, while the rest of the boxes are black. The cost basis is filled in and correct on all of the items I have reviewed so far. Reviewing an item, without making any changes, seems to clear the need for review, but the whole point of importing them from Wells Fargo is so I don't have to look at each line item. So, I am back to my original question. Since all of the information appears to be present and correct, why are all of them flagged for review and how can I tell which field is the problem? Is it the orange box? If so, why would it be unsure about the cost basis when it is clearly there. Thanks. This is so confusing!!

Re: Why would all of my transactions imported from my financial institution be flagged as needing...

JamesG1 — Tue, 25 Feb 2025 23:38:03 GMT

In your case, the 'the cost basis is incorrect...' is likely the reason that a Review is required.

In my download from another bank or financial institution, I was required to select a Sales section from the options to clear Review.

I have seen no downloads from financial institutions or various files that do not require a Review.

Consider entering summary information instead of each individual transaction. Create a .PDF of the IRS form 8949 to upload into TurboTax Online. Follow these steps.

Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click the down arrow to the right of Investments and Savings.
Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
Click Add investments.
On the Let's import your tax info screen, select Enter a different way.
On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
At the screen Which bank or brokerage, enter the information. Click Continue.
Do these sales include any employee stock, enter No.
Do you have more than three sales, enter Yes.
Do these sales include any other types of investments, enter No.
Did you buy every investment listed, enter Yes. Continue.
On the screen Now, choose how to enter your sales, select Sales section totals. Select Continue.
At the screen Look for your sales on your 1099-B, select Continue.
You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your IRS form 1099-B, IRS form 8949 and / or Schedule D Capital Gains and Losses for the amounts and category. When finished, select Continue.
You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
When completed, close the record and click Continue.
At the screen Now, we'll help you upload your 1099-B since the IRS requires a copy, browse and select your document. Select Continue.
When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.