topic Re: Importing Brokerage data does not work in Get your taxes done using TurboTax

Importing Brokerage data does not work

fac1012 — Thu, 20 Feb 2025 01:06:30 GMT

I am using TT Premier. I have been importing for years so I am not new at this. I successfully imported my W2 already this year. When I try to import 1099s from Fidelity and Schwab, I get the same message:

"Success! We got your tax data. You can now return to TurboTax."

But there's nothing there in TT. No data.

Schwab and Fidelity both say the data is ready for importing. I can type everything in manually, but I pay for the import function and I expect it to work. I have other info I need to import as well.

Can someone help?

John

PS. I restarted my PC, updated Windows, updated TT, cleared my cookies and cache etc

Re: Importing Brokerage data does not work

fac1012 — Fri, 21 Feb 2025 00:54:24 GMT

Any suggestions from the TT team?

I tried it again today. Same results.

John

Re: Importing Brokerage data does not work

fac1012 — Sat, 22 Feb 2025 18:57:48 GMT

Can someone from the TT team at least respond? I saw another post with the same issue, so I'm not the only one with the problem. Is it a Windows issue? A browser issue? Does it work for other people?

Re: Importing Brokerage data does not work

JamesG1 — Sun, 23 Feb 2025 15:21:42 GMT

I am able to import tax information from a financial institution using TurboTax Online Windows 11 and a Chrome browser. However, the financial institution is not Fidelity or Schwab.

Perhaps you should try using TurboTax Online in another browser.

Re: Importing Brokerage data does not work

fac1012 — Mon, 24 Feb 2025 02:19:18 GMT

Thanks for responding James. I am using the desktop version. When importing, TT opens up a browser window. I was using Firefox. When I changed to MS Edge, it started working properly.

Re: Importing Brokerage data does not work

JamesG1 — Tue, 25 Feb 2025 21:21:15 GMT

Thank you for following up.

I have seen differences in using different browsers for some issues but I had not seen it with downloading from a bank or financial institution.

Pleased that it worked out for you.

@fac1012

Re: Importing Brokerage data does not work

Cannon1857 — Thu, 27 Feb 2025 05:01:36 GMT

When I imported from Schwab (using Microsoft Edge) the information came into TurboTax Deluxe but created a new 'bullets/banners' for the Dividend and the Interest for 2024. So I had two bullets for my 2024 Dividend amounts, one showing the values from Schwab and the second showing $0. Ditto for Interest. I finally deleted the bullets with the $0's but am manually checking the other values to see that they match my 1099 hard copy.

This issue may be the one that ends my TurboTax subscription because the product seems to add one new frustration every year.

Re: Importing Brokerage data does not work

JamesG1 — Thu, 27 Feb 2025 18:01:12 GMT

When downloading from a bank or financial institution, I see the 'bullet/banner' being created under the name of the financial institution.

Are you saying that you are seeing a second 'bullet/banner' that is unnamed also being created?

This I have not experienced.

Re: Importing Brokerage data does not work

Cannon1857 — Thu, 27 Feb 2025 18:49:30 GMT

No, I am saying I see a second bullet/banner for Schwab with the data I wanted to import - but the first Schwab bullet-banner is there with $0 and if I click on it it starts me on the process to download from Schwab again.

Re: Importing Brokerage data does not work

fac1012 — Fri, 28 Feb 2025 00:48:05 GMT

@Cannon1857

Thank you for posting this. I went back and checked all the bullet points on all my imported docs.

Last year I got an unexpected K-1 late in March and needed to file an amended return. Lots of problems with that. I ended up getting an additional $218 bill from the IRS :(

Re: Importing Brokerage data does not work

Tscurlo2019 — Sun, 02 Mar 2025 17:52:46 GMT

Fac1012.... I am having the same issue with not being able to download at all.

I was able to do this last year with no issue.

MacBook Pro

Desktop Version of Turbotax

Firefox Browser.

Northwestern Mutual

I select Northwestern Mutual yada yada

It opens a firefox browser window,

I click on the Get Forms Button

It opens a smaller browser window to log into NWM.

I do so with user name and password... then they send me

a code via Text. I enter the code and continue.

It opens another browser windows and shows a connection arrows like its transferring,

then says.... "Success! We got your tax data. You can now return to TurboTax."

But when I go back to TT...... there is no data and it's on the same window of "Get Forms".

I am wondering if NWM hasn't transferred the data to their servers yet.... although I can go get the PDF version of my single consolidated version of my 1099-B, 1099-INT, 1099-DIV, etc.

It also seems like last year..... there was something to do with Pershing LLC..... as they are the clearing house for NWM.

I'm going to give it until March 15, as NMW say's that will be their final Phase V of issuing Tax Documents.

I wish you best of luck with your issue.

Re: Importing Brokerage data does not work

MonikaK1 — Tue, 04 Mar 2025 00:05:20 GMT

If your brokerage or other tax document issuer will not have their final phase out until March 15th, it's advisable to wait until then.

If your financial institution is a TurboTax 1099 Import Partner, you would likely have been able to import your 1099-INT, 1099-DIV, 1099-OID, 1099-R, 1099-NEC, and 1099-MISC (without entries in boxes 8 or 10) by January 31, 2025, and likely have been able to import your 1099-B and 1099-MISC (with entries in boxes 8 or 10) by February 15, 2025.

However, if your brokerage issues a consolidated tax statement with several types of 1099s, which is common, you might not have been able to import any of your 1099s until February 15, 2025.

If you can find out from your broker whether the statements are going to be coming out in phases, it is probably better to wait to import until the final statement comes out to avoid the issue you described. This is generally an issue with way the statements are presented rather than a software issue.

Check here for updates to the Help Article with this information.

When importing, make sure TurboTax and Windows are both updated, and temporarily disable all anti-virus software (including modem). Make sure your broker does not require you to allow 'third party access', which you may enable in your broker account, if this applies. Some users reported that disabling security software solved the issue.

@Tscurlo2019

Re: Importing Brokerage data does not work

fac1012 — Tue, 04 Mar 2025 00:42:06 GMT

@Tscurlo2019

>But when I go back to TT...... there is no data and it's on the same window of "Get Forms".

This is EXACTLY what I saw. I changed browsers and it worked. I think TT supports Chrome and Edge. I had problems with FF and Brave. I also had to change my default browser 'cause TT grabs your default.

2 things I would check: 1. Sometimes the financial institution puts out the pdf before they have the import data ready (though I would think by Mar 3 it should be ready) 2. Find out from NWM about the Pershing Clearing house. NWM should have that info readily available if that's the case. Maybe in a FAQ...?

Most all of my info is ready but I am waiting to file until I get my K-1. I don't want to file an amended return again. That was NOT fun.

Good luck.

John

Re: Importing Brokerage data does not work

Tscurlo2019 — Wed, 05 Mar 2025 16:09:35 GMT

Thanks for the reply Fac.

I'll try Chrome and see what that does,

But I've pretty much resided to the fact that they may not upload all the tax data until the end of all their Phases,

(Northwestern Mutual that is)

Thanks again for your input and suggestions.

Re: Importing Brokerage data does not work

Sharonethomas1 — Fri, 07 Mar 2025 21:33:05 GMT

I'm having the same experience with Northwestern Mutual. .... "Return to TurboTax" and there is no data there.

Last year, I was able to import without problems. If I have to type in the information, I'm going to lose my mind.

Re: Importing Brokerage data does not work

BrittanyS — Fri, 07 Mar 2025 22:38:58 GMT

Make sure the transactions do no exceed 4,000 non-covered transactions for online or 10,000 for desktop. Also verify the entity selection. Many partners have similar names and it is easy to chose the wrong one. If that doesn't help, see the link below provided by TurboTax:

What if I can't import my 1099?

@Sharonethomas1

Re: Importing Brokerage data does not work

Sharonethomas1 — Fri, 07 Mar 2025 22:47:24 GMT

Thanks. I have the right entity. Turbotax connects to Northwestern Mutual, then there is no data at the end. I have the Desktop TT, so no problem on transaction limits. I've updated my Mac OS, I've tried Outlook, Chrome and Firefox. I have seen references in other posts to "ready to import" dates for investment partners being available on TT, but haven't been able to find those.

Re: Importing Brokerage data does not work

opensquare — Sat, 08 Mar 2025 23:35:40 GMT

I have issues with importing Interactive brokers into turbotax 2024. It goes through the process estallishing the connection and then small bip and comes back to interactive brokers information screen ( query id and Token). I have more than 10,000 transactions, what should I do?

Re: Importing Brokerage data does not work

DianeW777 — Sat, 08 Mar 2025 23:58:58 GMT

You can always use direct entry if you choose, with summary totals. The only exception is wash sales, which must be entered separately, if you have any.

Holding Periods:

Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)

TurboTax Online:

Open or continue your return (if it's not already open) and search for stock sales
Select the Jump to link in the search results
Answer Yes to Did you sell any of these investments in 2024?
- If you land on Your investment sales summary, select Add more sales
On the OK, let’s start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue
On the Let's import your tax info screen, select I'll type it myself
Step through the interview and select Sales section totals when prompted to choose how to enter your sales
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
You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen

TurboTax Desktop:

Open or continue your return (if it's not already open) and search for stock sales
Select the Jump to link in the search results
Answer Yes to Did you sell any investments in 2023?
- If you land on Here’s all the investment accounts we have so far, select Add more sales
Answer Yes to Did you get a 1099-B or a brokerage statement for these sales?
On the screen Let Us Enter Your Investment Sale Info, select I’ll type it in myself and Continue
Enter the name of your bank or brokerage on the screen Which bank or brokerage sent you this form? and Continue
On the screen Tell us about your 1099-B, select I’ll enter a summary for each sales category
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
On the screen Do you have another sale to enter from your 1099-B? select Yes to enter more sales from your 1099-B, or No to see a summary of the sales you already entered, then select Continue
Once you’ve entered all the sales on your 1099-B, you’ll see a summary of all the sales reported. Select Done

If you are e-filing your tax return, then mail your statements (1099-Bs or other document showing detailed sales information) along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet)

@opensquare

Re: Importing Brokerage data does not work

Cream — Tue, 11 Mar 2025 19:52:33 GMT

Same issue as others with importing data from Northwestern Mutual Investment Services this year. It worked fine last year. The upload will show PERSHING LLC in TurboTax. Manual entry is not a good solution.