Download Issue with TurboTax 2024 & Schwab

[SS Whip]

I'm posting this so that the moderator can pass it along...There is a problem with downloading 1099s from Schwab. The scenario is as follows:

After I had already downloaded some 1099s from my Schwab accounts, they added a new 1099 to one of my accounts. When I downloaded the newly added 1099, the previously downloaded 1099s disappeared from TurboTax. After multiple attempts, I finally figured out that I had to delete the new 1099 from TurboTax, then re-download all the 1099s.

Intuit needs to correct this because brokerages routinely drop new or updated 1099s after the initial drop.

Thanks

[MonikaK1]

Several users have reported problems with importing files from Schwab this year. Some reported that the files just became available in the last several days. 

If your financial institution is a TurboTax 1099 Import Partner, you would likely have been able to import your 1099-INT, 1099-DIV, 1099-OID, 1099-R, 1099-NEC, and 1099-MISC (without entries in boxes 8 or 10) by January 31, 2025, and likely have been able to import your 1099-B and 1099-MISC (with entries in boxes 8 or 10) by February 15, 2025.

However, if your brokerage issues a consolidated tax statement with several types of 1099s, which is common, you might not have been able to import any of your 1099s until February 15, 2025. 

If you can find out from your broker whether the statements are going to be coming out in phases, it is probably  better to wait to import until the final statement comes out to avoid the issue you described. This is generally an issue with way the statements are presented rather than a software issue.

Check here for updates to the Help Article with this information. 

When importing, make sure TurboTax and Windows are both updated, and temporarily disable all anti-virus software (including modem).  Make sure your broker does not require you to allow 'third party access', which you may enable in your broker account, if this applies. Some users reported that disabling security software solved the issue. See this thread for other experiences and suggestions. 

In TurboTax Online, you can attach a PDF of your 1099-B; however, in TurboTax Desktop, here's How to Enter a Summary in Lieu of Individual Transactions, which only requires a small amount of data entry.

[SS Whip]

Thank you for your response MonikaK1. I apologize for the lengthy response below, but I did not adequately describe the import issue. I will attempt one last time...

The downloads did involve different types of 1099s, but they were for different accounts, as well as different account types (IRA, Roth IRA, and 2 separate brokerage accounts from Schwab and TD Ameritrade).  One of the brokerage accounts' consolidated 1099s became available in early February, which I successfully imported into TT around 2/17/25, along with the other Schwab & TDA 1099s - except for one Schwab consolidated 1099 for a different brokerage account. That last one became available on about 2/26/25. After importing only that final consolidated 1099, TT removed all of the other 1099s. After a several iterations of importing different 1099s, which sometimes created duplicate records in TT, I ended up deleting all of the downloads from TT and did one import of all 1099s, which fixed the problem, for now. 

The challenge occurs when Schwab publishes a corrected version of one of the consolidated 1099s - which generally happens because some company(s) recharacterize dividends after Feb 28.  If the past is any indication of the future, I will have to delete all 1099s in TT and re-import all 1099s from Schwab/TDA...

Thank you!