topic Corrected Composite 1099 in Deductions & credits

Corrected Composite 1099

jf4evr — Tue, 14 Apr 2026 12:44:51 GMT

Schwab sent a corrected 1099 which has DIV and B info. The 1099 has 312 pages to it! Since it's a consolidated 1099, I'd have to import both DIV & B. What's the best way to update? I see there is an option off file in main menu for import removal that I can delete the DIV and B parts of that 1099, that the best way? Then import the new 1099 via which method?

Re: Corrected Composite 1099

MaryK4 — Tue, 14 Apr 2026 14:56:16 GMT

The best thing to do is remove the import you currently have completely, then import the new corrected report. It will make sure the complete record is correct.

How to De-Import the 1099

Navigate to the Federal Taxes > Wages & Income section.
Go to the summary screen for Investment Income (where you see Dividends on 1099-DIV and Stock or Property Sales (1099-B)). Note how many distinct "Charles Schwab" entries you currently have for DIV and B. (You want to make sure they all get removed).
Now, go to the top menu bar (outside the main interview window) and click on File.
Select the option "Remove Imported Data." (Note: This phrasing may vary slightly by TurboTax version, sometimes it’s "Imported Data Summary" or "Tax Import").
You will see a checklist of all 1099s that have been imported.
Check the boxes for all Charles Schwab entries listed under 1099-DIV and 1099-B.
Click "Remove Selected" or "Delete."

After you have confirmed that the "Charles Schwab" summary entries for both DIV and B are gone, you are ready to re-import the corrected data. For a form this large, you must use the standard, direct partner import.

Re: Corrected Composite 1099

jf4evr — Tue, 14 Apr 2026 15:51:09 GMT

I have (4) composite 1099s from Schwab, but only one needs to be reloaded. Why do I need to delete all four 1099's when it's just the one that's been corrected?

Re: Corrected Composite 1099

Karis_F — Tue, 14 Apr 2026 15:53:52 GMT

You only need to remove the one that has a corrected Form 1099 composite. Just make sure you are deleting the correct one before importing the corrected form so that it is not duplicated.