2024 Taxes - TT or Morgan Stanley 1099 direct download missed $8400 in interest from 6 US Treasuries???

[DD660]

Hi All,

Been researching this for a week or two.  Talked with my Investment Advisor, who is an Executive Director of Wealth Management at Morgan.  We discussed the item which is clearly on their 1099 (with details) and it is no where to be found in TT.  It appears to be an accurate item.  I can see all of the details on their tax docs.

FYI - I did the direct download for Morgan in TT.

How should I proceed?  There are two current 1099-INT worksheets for Morgan. One has $ .70 and the other has $ .12.  I guess I could add it to one of these? Or make a new one?

I'm still unsure if it should be included.  It certainly appears to be a real #. Appreciate any advice.

Thx Dave

[baldietax]

If it's on your 1099 (and you agree those transactions which sounds like you've confirmed), that's what you need to report.  I've always manually input for years, never found the import worth the hassle.  Scrolling the forum this year it's littered with similar import issues, things missing or technical problems, and common theme is folks well versed in the import feature saying they've never had these sorts of problems before.

You're probably better off just deleting whatever 1099-INT mess the import created and manually inputting it cleanly.  Or put an additional one in for these items, it doesn't matter how you split up the 1099s as long as the totals add up.

[LindaS5247]

If you would like to enter your Form(s) 1099 manually, it is easy to do.  I have included instructions for deleting your current 1099 entries and how to enter them manually.  I am using 1099-INT for this example, but it can be easily followed for any 1099.

To delete your Form(s) 1099-INT, you can do the following:

1. Open/continue your return
2. Click on "Search" 
3. And in the search bar type"1099-INT"
4. Select "Jump to 1099-INT"
5. It'll take you to a screen that shows your Form(s) 1099-INT that you have entered.
6. Next to the Form 1099-INT you want to delete, click on the (down-Facing) caret
7. Click on the "garbage can" to delete this form

You can enter your Form(s) 1099-INT information using the steps below:

1. Open your return
2. In the search Bar enter Form 1099-INT
3. Select "Jump to 1099-INT"
4. It will ask, "Did you have investment income in 2024?" Select "Yes"
5. Select "Continue"
6. Select "Skip Import"
7. You will Select your investment type which is "Interest"
8. You will "Continue"
9. Then you will see the screen "Let's get the info from your 1099-INT"
10. You will type in the information from your Form 1099-INT on that page

Click here for information on entering a Form 1099-INT.

Click here for "Where Do I Enter Form 1099-DIV in TurboTax Online?"

Click here for additional information on entering Form 1099-B.

Click here for "How Do I View and Delete Forms in TurboTax Online"

Click here for "How to Delete Forms in TurboTax Desktop"

Please come back to TurboTax Community with any additional information or questions you may have and we will be glad to help you.

[Mike9241]

if its just this one number it may be simplest to enter it manually on form 1099-INT on line 3

[DD660]

Thx for the info. I agree with your viewpoint. I’m  trying to qualify with Morgan the # is accurate as it increased my tax 3x.  I’m also going to determine if I can have some tax # to be withheld in the future. 

[DD660]

Further on this item, does anyone ever try and chase down the root cause and have TT or the bank improve their process?  While I have some decent amateur tax knowledge, sure would have been expensive to send in an inaccurate filing. And frankly, I’m rather irritated to complete my taxes seeing one tax $ and then determining it is now 3x.