Downloaded 8949 & 1099B totally incorrect

Forum|Forum|3 months ago
March 21, 2026
1 reply
12 views

I have dowloaded Interactive broker to my Turbo Tax. At IB the information is correct but after transfer into TT is totally incorrect. I understand some cost basis needs to be added but proceeds and costs are in the millions vs in 100 thousands. Removed and downloaded twice do I go to mannual entry?

MelindaS1

Level 6

If the import process is not recognizing the digit notation of your 1099-B, you can manually enter the form - follow the below instructions for your product type.

Manually enter your 1099-B in TurboTax Online by following these navigational steps:

Tax Home
Federal
Income
Investment and savings
Select Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
Select (+) Add investments
Select Enter a different way
Select Type it in myself
Select Stocks, Bonds, Mutual Funds, select Continue
Proceed through the question screens to enter all your 1099-B info.

Manually enter your 1099-B in TurboTax Desktop by following these navigational steps:

Federal
Wages & Income
Select I'll choose what I work on
Investment Income
Select Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
Select (+) Add investments
Select Skip Import
Select Stocks, Bonds, Mutual Funds, select Continue
Proceed through the question screens to enter all your 1099-B info.

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mjpb52Author

Level 5

Unfortunately I have mentioned 8949 as a day trader this means hours of work. If only I can download a expanded TT 8949 to compare with the IB download.

Also it takes different tries to get to the actual program due to turbo tax not working and stuck on Updater.

I have worked for many years with TT and this is the buggiest yet.

mjpb52Author

Level 5

Unfortunately no one reads the questions , answers are always simplistic as if going to manual entry is the answer. My 8949 is 4 pages am I to spent hours trying to fix the problem. Now on another account cannot dowload InterActive brokers even though all is correct query token and connection is established , after using TT for so many years I cannot belive your instructions is to enter manually again. This is your problem own up to it.