Hi all and thanks for your help. Charles Schwab took over TD Ameritrade midyear. I'm just importing forms from both firms. is that correct? will I be double taxed?

[wondering811]

I'm just uploading the two forms from each brokerage now. I'd rather be safe than sorry.

[Bsch4477]

You should be getting forms that reflect activity both before and after the takeover rather than duplicate reports. 

[fanfare]

My thinking is Schwab should take all your history from TD Ameritrade when your account is moved.

including cost basis for all holdings (and as adjusted for wash sales).

so it would not be necessary to import from TD Ameritrade

[wondering811]

Thank you so much for your helpful response. Turbotax is guiding me to update the ameritrade info from the previous year, do I just ignore this? because I have a consolidated report from Schwab uploaded already. Don't want to be redundant but don't want to not report anything. Any help is so appreciated over here! 

[fanfare]

If you import the same trades again, you will be listing them twice.

You have to review the TurboTax results for accuracy before you SUBMIT your tax return.

@wondering811 

[PatriciaV]

After you import the transactions for Charles Schwab, check to be sure there isn't a blank entry for Ameritrade. If so, TurboTax will continue to ask you about this. Either click the "no" button if asked if you need it this year or delete it (trashcan icon) from the investment list.

The easiest way to find this section of TurboTax is to open your return and use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in 1099-B, hit Enter, and click the "jump to" link to go directly to beginning of that topic.

Or go to the left column in TurboTax Online and click on Tax Tools >> Tools >> Topic Search. Type in your topic, then click the topic in the list to go directly to the start of that section.