1099 (combined) filing questions

[diyguy2025]

First time user, in past CPA did this for $700.

Three questions:

1) I have almost completed the return but cannot seem to import the combined 1099 statement from my financial institution (which is listed). This may be due to the transaction limit or not yet available for import even though available to me, I don't know. Is importing even necessary, or is it acceptable to just enter the data from it and move on to filing?

2) And, when I get to the point of filing in turbotax will it ask to upload a copy of the 1099 combined statement as part of the filing (just like a W-2), or do I just keep that for my records?

3) Also, out of curiosity, does anyone know whether the institutions send the 1099 statements directly to the IRS so they can compare with what you send?

Thanks in advance for your answers.

[KeshaH · Accepted solution]

You can type all of the information from the 1099 into TurboTax directly - no need to import. You will not need to upload a PDF copy of the form to TurboTax. Generally you would just keep it with your records. If, for whatever reason, you need to provide a copy to the IRS, TurboTax will walk you through how to mail it. The IRS does typically get copies of the forms you receive, including the consolidated 1099.

[diyguy2025]

KeshaH, Thanks for the quick and thorough response! turbotax was much easier to use thank I expected and your community support is appreciated. Have a great day!

[KeshaH]

You're very welcome!