I have TurboTax Premier for TY 2018. I cannot find Charles Schwab in the dropdown list for financial institutions. Why is that?

[macuser_22 · Accepted solution]

It will be when Schwab activates the software on their end sometime mid-February.  As of now, Schwab has shut down their server so it disappeared from the list.  They are probably getting ready for the 2018 season.

[mesquitebean]

@tbloch Charles Schwab is now in the list again.  It showed up in the last couple of days, possibly in the latest software release.

[tbloch]

I just checked and I'm seeing it too. When selected it says it will be open on 2/1 for 1099 downloads.

[Anonymous]

It's 2/1 and still not working...

[tbloch]

I see it in the dropdown list now. Make sure your product has the latest updates. The response I got was that it would be operational on 2/1. It was, on 2/1 at 12:00 AM Pacific Time. However, when that time came I entered my Schwab account credentials and the response I got was that the Schwab 1099s won't be available until 2/15.

[mesquitebean]

In terms of mailed or downloaded 1099s, Schwab is sending out its 1099s in 2 batches.   The first batch will go out this week, and are 1099s that Schwab says are unlikely to have any changes.    The second batch they are holding back until around 2/15, which are 1099s which could receive late information or changes from mutual funds, etc.  So they are keeping that second batch longer so some people can avoid having to get a corrected 1099 later and possibly having to file an amended return.    However, that's for mailed or downloaded 1099s.   They may not turn on importing for either batch until 2/15, but I don't know, but I would guess they would do it all at once on 2/15.

[macuser_22]

And sometimes they will issue a corrected statement in March if you have foreign investments with foreign tax withheld.   I have such investments ans never file until the end of March.