Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 16, 2024 12:29:31 PM

Are barter and exchange transactions automatically imported into TurboTax returns and reported to the IRS from brokerage accounts, such as Morgan Stanley?

If the worksheets contain the information, will those be correctly reported to the IRS?

0 1 48648
1 Replies
Level 15
Jun 16, 2024 12:42:09 PM

I'm not sure exactly what you're asking. Nothing is imported into TurboTax "automatically." You have to initiate importing of transactions from a brokerage account. If you imported 1099-B information from a brokerage account, all the information that the brokerage provides to TurboTax will be imported and will be reported on your tax return. The brokerage determines what information it provides to TurboTax. If you have an unusual type of transaction you have to check to make sure that it was imported correctly. Mistakes do occasionally occur in importing. You should always check all of the imported information.