topic Re: Importing Financial Information in Get your taxes done using TurboTax

Importing Financial Information

HSaltzman — Thu, 05 Nov 2020 21:19:46 GMT

I'm still working on my 2019 taxes. When I went to import financial info from my broker, a message indicated it would not be available until January, 2021. It seems to think I want my 2020 info. How can I import my 2019 info?

Re: Importing Financial Information

DoninGA — Thu, 05 Nov 2020 21:23:11 GMT

Importing of financial information on Forms 1099 has closed for the 2019 tax year. You will have to enter the Form 1099 manually into the TurboTax program.

Re: Importing Financial Information

Critter-3 — Thu, 05 Nov 2020 21:24:47 GMT

The ability to import 2019 information has closed ... manual entry is your only option.

You do have the option to enter summary subtotals instead of each individual transaction ...

IRS requires each transaction to be listed on Form 8949 OR on your own forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.

If you use your own forms you have to mail them to the IRS with the tax return.

>>After answering YES to I have a 1099-B, click on the "I'll type it in myself" option

>>On the next screen, name your brokerage.

>>On the next screen, check those boxes for which your 1099-B has transactions assigned to that Box.

>>You'll have to enter the subtotals for each box category.

>>THEN click the option "I have many sales and would rather mail them"

After you enter the subtotals, follow the "mailing instructions" for how to file correctly.

Your return will still have Forms 8949 to e-File but they will have subtotals instead of each individual transaction.

Re: Importing Financial Information

HSaltzman — Thu, 05 Nov 2020 21:27:33 GMT

Not what I wanted to hear, but thanks for replying.

Re: Importing Financial Information

HSaltzman — Thu, 05 Nov 2020 21:28:27 GMT

Not what I wanted to hear, but thanks for replying, and for explaining what I can do.