topic I imported my Edward Jones 1099-B into TT Del but got no "sale category". "Date Acquired" is "various", but they are grouped together as "ST Covered" or "LT Covered". in Investors & landlords

I imported my Edward Jones 1099-B into TT Del but got no "sale category". "Date Acquired" is "various", but they are grouped together as "ST Covered" or "LT Covered".

kandelawhon — Mon, 15 Mar 2021 23:12:30 GMT

There are about 300 transactions. Last year this worked fine. What can I do to not have to enter 300 sale categories?

Re: I imported my Edward Jones 1099-B into TT Del but got no "sale category". "Date Acquired" is ...

HelenC12 — Tue, 16 Mar 2021 14:56:05 GMT

You could delete the imported information, delete your cookies, clear your cache, reboot your computer and try to import your information again.

If that doesn't work, there is an alternative that is better than manually entering each transaction. You can enter summary totals for each asset sale category. It will require you to mail a copy of your Form 1099-B along with Form 8453 (which TurboTax will generate). See the following instructions from an answer that was posted. Click here.

Tax Tip: Your total capital gains for the year minus your total capital losses result in a net gain or a net loss.

You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

Re: I imported my Edward Jones 1099-B into TT Del but got no "sale category". "Date Acquired" is ...

kandelawhon — Thu, 18 Mar 2021 17:32:01 GMT

Thanks for the reply. I worked with TurboTax help and tried re-importing it without success. Upon further research, TurboTax admitted that they had a known problem with importing Edward Jones 1099-Bs. They are working on it but do not have an expected solution date.

As for the workaround, it is my understanding that summary totals only work if there are no adjustments to the sales (Boxes 1f and 1g), which I have. Am I wrong?

Re: I imported my Edward Jones 1099-B into TT Del but got no "sale category". "Date Acquired" is ...

LinaJ2020 — Fri, 19 Mar 2021 21:08:01 GMT

If import does not go smooth, I will suggest to manually enter info. For import, there are a limit on how many transactions TurboTax can handle. If there are too many transactions, try to sum up between long term and short term. Here are the steps:

In TurboTax online,

Sign into your account, select Pick up where you left off
At the right upper corner, in the search box, type in 1099b and Enter
Select Jump to 1099b
Follow prompts
On-screen, "Let's import your tax info, select I'll type it myself
Follow prompts to continue

For more information, click here:

Import / crashed

A Form 1099-B is issued to report the proceeds from your stocks and bonds transactions. The transactions 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.