turbotax not importing 1099 from etrade properly

[rdenney]

I'm having issues importing from Fidelity Investments. The forms are available, the import competes BUT is missing Long Term CAPITAL GAINS from sale of stocks. Tried phone support .. they said yep, looks like that was reported but closed as not a bug. Well .. it's a bug folks

[Hschechter]

I was able to import my 1099-B  a few weeks ago, but I received a corrected 1099 form from ETRADE so I deleted the previous 1099s from Turbotax and tried to import them again.  The 1099-DIV, 1099-INT, 1099-MISC and 1099-OID came in fine but I WAS NOT GIVEN THE OPTION TO IMPORT MY 1099-B!  And it is 14 pages which I do not want to do trade-by-trade since Turbotax is SUPPOSED to import.  I followed the directions but there appears to be no way to import a 1099-B from ETRADE at this time.  Maybe when other bugs were fixed, the ability to import 1099-Bs from ETRADE was lost.  Can it pleased be fixed??

I also will never use Turbotax again and tell my friends and family NOT to use it unless this is fixed ASAP!!!

[Hschechter]

There is no option to import 1099-B from Etrade, just the other 1099s.  I did it easily a few weeks ago but just received a Corrected 1099 3 days ago and when I try to import from Etrade, there is no way to get the 1099-B.

What do I do?

Your software is awful and you should hire new programmers that know what they are doing...

[Mike_h67]

Renee,

I know this isn't working and it is a big, big problem.  I have accounts at both Etrade and Fidelity...they both issue a 1099 con.  Regardless of how Turbo tax actually transfers the financial data...the input doesn't work correctly...the DIV transactions come in, the INT comes in; but the 1099 B comes in with no data.  When you get to that part of the tax walk through turbo tax asks you if you want to update the same of the account, and since there is no 1099 B data, when you hit continue it does nothing...goes onto the next 1099B file name etc.  and eventually just moves on to the next potential income section.  attached are some 2021 screenshots - w/ redacted personal data...

I could add a shot for the etrade import also...show the 1099 B as there but with no transaction data...

[MarilynG1]

Since we can't see your return in this forum, and other users are able to import successfully, I would suggest that if you are using TurboTax Online, delete your 1099-B import, close the program, clear your Cache and Cookies and re-try the import. 

If you are still unable to import, consider entering a Summary in Lieu of Individual Transactions. 

[Mike_h67]

I am running turbo tax from sw on my desk top not off of the internet...I've cleared and tired to reimport multiple times...are there any other suggestions?

[Mike_h67]

Here is another screen shot...

Div's come in fine, but no 1099 B data...

How do I request a refund for my turbo tax software...the reason people aren't reporting it is they are skipping right over it...I can't get it to work from either Etrade or Fidelity...I am certain thousands of tax payers are skipping right over this...

[MarilynG1]

If your import isn't working properly, many users elect to use the 'summary method' of reporting 1099-B info, as basically only two lines need to be entered in TurboTax.

The IRS is really only interested in whether you had a Gain or a Loss and whether it was Short-Term or Long-Term.  Plus, they have a copy of your 1099-B already.

Click this link for into on How to Enter a Summary in Lieu of Individual Transactions. 

Since we can't see your return in this forum, it would be difficult to say why the 'import' function works for some, but not for others. 

[Mike_h67]

Dear Marilyn, 

First, although I get it that we can't share tax returns in this forum (what an astute observation of you :)), I have provided screen shots twice now from Turbo Tax clearly illustrating the problem IS real.   Others have complained that it is not working correctly for them on this thread also...I checked last years return and looks like the problem carried forward in the software...was not an issue in years past.

For the manual, summary approach, oh would it be so nice if it such a simple solution would work as you point out, but alas, I have a few small disallowed wash sales in 2 of my accounts which put a serious wrench into that idea.  So I can either enter a few hundred individual trades or I have to print out all my 1099B pages (~30) from 2 accounts (Etrade and Fidelity - yes! occurring in both!)  and send them to the IRS somehow separately, and hope to avoid an audit.  Right? the point of Tax software is to automate the process...avoid manual entries and avoid paper filings....or am I missing something. 

I must also say that I am very disappointed that all of the "Expert" comments on the board around this issue center around how to work around the problem and not what Turbo Tax is doing to correct this significant issue.

The irony is, that If you click on the 'details' of each import, it looks like the data from Etrade and Fidelity actually comes into Turbo Tax...the problem is Turbo Tax is not mapping the data fields correctly and assumes there is no 1099-B data there...it is a big problem in the software.

The way the software works, it is simply very easy to gloss right over the issue in the interview and roll along...I am a detailed person, but that's exactly what I did last year and what I almost did this year...thousands of people are missing the issue...its a BIG problem

[MarilynG1]

I'll make another 'astute observation'; the import does work for many users.

When import doesn't work for some users, there's really no way we can determine why it doesn't work in your return.  All we can do is make suggestions that have worked for others. 

There's a myriad of possibilities (including virus software) that can prevent a successful import.

I agree that the import function needs work, but since there are so many variables, even enhanced programming won't solve the problem for all users. 

And, as I mentioned, the IRS isn't really interested in looking at all your individual transactions; they prefer a summary. 

And yes, you can summarize wash sales.

Summarizing Wash Sales

[Mike_h67]

Marilyn,

Thanks for the advice on summarizing wash sales...if its possible to do, its certainly not the way the software directs you...it tells you if you have an amount in 1F or 1G you need to either send in documentation of your 1099B or itemize your transactions...full stop.  My guess is if you summarize you still need to mail in your 1099B' s which is not what I purchased TT for...

At his point, this will be my last post on the board because I now fully understand the problem, and I have a strategy how to handle it this year.  Next year, I think I'll be looking at different software.  Its not a virus software or other issue with my system...the 1099 Div info comes in from Etrade AND Fidelity just fine, gets processed correctly, etc.  its isolated to the 1099B data ONLY.  I am glad you believe its not happening to a large CLASS of investor/tax payers.  The version of TT software I purchased was specifically marketed to my class of investor/tax payer.  if I just glossed over the issue this year without checking, I would have underpaid by several thousand dollars.  It doesn't take a large CLASS of people for an issue like this it to be a BIG liability for them and TT.  TT is now clearly aware of the issue (should have been aware of it last year)...the software doesn't even flag a warning when a 1099B comes in at $0 of proceeds...otherwise why would that person even have a 1099B to import?  Ask the software guys how many returns get processed with a 1099B with $0 proceeds... that will clearly tell you how big an issue it is.  It looks like it happened to me last year and again this year with 2 different investment banks...it is happening to other people on this thread - and I am certain to many, many people who don't even realize they are missing something significant in their return.   I've been using Turbo tax for 20 years and have imported 1099B's for many of them with no issue.  I am really surprised.   If I am not flagged for an audit, I think I'll walk away quietly and make a different decision next year.  But if I am, and its an issue for me, I will for sure be getting legal representation and will be happy to toss my hat in ring as lead plaintiff...Then maybe we'll really find out if its as small an issue as (you) TT says it supposedly is...  Significant doubts on that one...

[jonesy213]

Two F-ing hours later on a call with TT, this is their response:

• "Because there is a workaround to enter 1099 forms in a summary fields, we will not create a case for this."

This is ridiculous. I paid money to get Premier specifically for the integrations with E*Trade so all of my transactions are imported and I don't have to worry about incorrectly entering data. E*Trade is LITERALLY one of the displayed logos when you click "Import" (see below). Yet the integration is broken and TT refuses to create a ticket acknowledging that this is a bug.

What did I pay for then? If I wanted to manually enter my taxes I would have gotten a pen and paper like it was 1980.

When you call the rep says "I don't see a case for this", but when they see that there is a bug they say "we can't create a case because there is a workaround". This is some chicken and egg BS! How will anything get fixed if you don't admit it is broken in the first place. To my knowledge there is no way to see if this is being worked on or when it will be fixed. I will be using another tax service and asking for a refund as this is absurd.

[MuckC]

I had the same problem.

My fix was instead of importing it from the 1099-DIV screen. I imported it from the 1099-B screen. I didn't think it would work after many tries from the DIV screen. I think it must be a bug. Try doing it from the 1099-B import screen and let me know what you think. 

Note: the screens look exactly the same.

[MarilynG]

If you're using TurboTax Online and choose the 'Sales Section Totals' option you can attach a PDF copy of your 1099-B to your Efiled return and not have to mail anything. 

[flembach]

Is this a new functionality? also why would they have this for the online version and not the desktop? I had to switch to desktop several years ago because it had a higher threshold for trade imports and now the online version is superior in several ways.