topic Re: Importing 1099-B in Get your taxes done using TurboTax

Importing 1099-B

fasteddie577 — Sun, 31 Jan 2021 18:23:08 GMT

Can I import a TD Ameritrade 1099-B into TurboTax? Thanks

Re: Importing 1099-B

Mike9241 — Sun, 31 Jan 2021 20:42:51 GMT

when it's ready, yes you can. if you have issues contact the broker. some require a special procedure to import.

Re: Importing 1099-B

fasteddie577 — Sun, 31 Jan 2021 23:31:45 GMT

Thank you.

Re: Importing 1099-B

LDBeshear — Wed, 24 Mar 2021 19:03:51 GMT

When will it be ready?

If it's the brokerage, the data should be available now.

I will verify this though.

Re: Importing 1099-B

LinaJ2020 — Fri, 26 Mar 2021 03:50:34 GMT

Yes, of course !! To see instructions and discussions, click here: Ameritrade import

If you sold any stocks and bonds transactions during the year, the program will generate either a long term or short term capital gain or loss depends on how long the stocks are being held. The amount will be reported on line 7 of your Form 1040 along with a Schedule D and Form 8949.

Re: Importing 1099-B

fanfare — Fri, 26 Mar 2021 05:15:56 GMT

for best results with TurboTax, use the "enter a summary" option.

As an active investor, be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

Category A and D are the covered transactions.

If you summarize (recommended),

you only need to supply PDF of 1099-B covered transactions with adjustments that are not listed on your e-Filed Form 8949. and all non-covered transactions not listed there.

in other words, for active investors, generally this is a list of the Wash Sales.

Note: turboTax may suppress some covered transactions without adjustments. For those, no mailing is required !
--
If you have two pages (for example) of Wash Sales,
use Adobe Reader to print those two pages. That's all you have to mail to the IRS, given that those wash sales are not on your e-Filed form 8949 already.
(you might enter them manually if they are few in number.)

If you were wise enough to avoid wash sales, you won't have to list or mail anything.
Meanwhile some have reported that TurboTax will take your 1099-B PDF as an attachment avoiding the need to mail it.
TurboTax has not documented or publicized this capability.