How to import 2021 brokerage/bank information

[xilex]

Hi, I am trying to complete a 2021 tax return (on desktop version of TurboTax) to compare with a prepared 2021 return. When trying to import information from financial institutions, they all say that documents will be ready in 2023. But these documents are for 2022 year. Is there a way to import information from previous year? Thanks.

[xmasbaby0 · Accepted solution]

Sorry--you are too late.   They stop allowing import to tax software for  tax year 2021 when they begin the transition for the next tax year.   You will need to download the document and enter the information manually.

[DoninGA · Accepted solution]

Importing of financial documents for tax year 2021 has closed.  You will have to manually enter the information from the Forms 1099 that you received.  Or you can go to your financial websites for those 2021 documents.

[VolvoGirl · Accepted solution]

Sorry, it's probably too late.  They are getting ready for next year.  Did you call and ask them?  2021 is now the prior year.  Even if you can see the 1099 pdf file they don't keep the import files online.  

[xilex]

Thanks, I suspected so. I have all the documents offline, but I feel I may be getting some of the data entry wrong and was going to import to make it easier.

[fanfare]

it's too late to attach a PDF of consolidate 1099-B because it's too late to e-File

still you can do a one-line aggregation  by Form 8949 box category.

TurboTax calls this summarize and mail in option.

TurboTax will write "see attached" on your forms 8949.

You can attach a printout of your consolidated Form 1099-B when you mail in your paper tax return.

@xilex 

Important: Detail Reporting Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary. No attachment is necessary.

[fanfare]

"to compare with a prepared 2021 return."

prepared by whom?

Did you already file the prepared return?

using aggregation or detailing each and every SELL transaction should both produce the same end result on Schedule D.

@xilex 

[paullisa2020]

Hello Fanfare,

I saw your answer to a previous posted question to someone where you replied:

it's too late to attach a PDF of consolidate 1099-B because it's too late to e-File

still you can do a one-line aggregation  by Form 8949 box category.

TurboTax calls this summarize and mail in option.

TurboTax will write "see attached" on your forms 8949.

You can attach a printout of your consolidated Form 1099-B when you mail in your paper tax return.

I have a somewhat similar situation. This is what I am wondering: 

I am finally trying to file a 2021 return and realize I am now too late to import any of my 1099-Bs. So, it looks like I can do what you suggested to this other person regarding my 1099-Bs if I "mail" in my return.

But I also have numerous crypto exchanges that did not furnish me with 1099-Bs. Instead I had to download many CVS or PDF files from these various exchanges, with some containing hundreds of individual sales transactions. Do you happen to know if I can use the downloaded 2021 Turbo tax software program to write "see attached" on the 8949 relating to these CVS and PDF files from different exchanges (just like Turbo tax does for the consolidated 1099-Bs) and then mail in the CVS and PDF files, "WITHOUT" my having to type these hundreds of individual transactions into numerous 8949 forms?  Would the IRS even accept those since they are not officially "consolidated 1099-Bs"?

Perhaps you have no idea, but I thought I would at least ask. Thanks so much in advance for any help or advice you might give. Sincerely, Paul 

[fanfare]

I sent you a PM

@paullisa2020 

[fanfare]

"Would the IRS even accept those since they are not officially "consolidated 1099-Bs"?"

IRS prefers Form 8949.

consolidated 1099-B is an "acceptable" substitute.

consolidated 1099-B may have a lot of unnecessary records, since for Box A or Box D only wash sales have to be detailed on Form 8949 

@paullisa2020 

[ssom]

Thank you for all responses.  I came across this post as I was having the same issue today on importing 2022 information from financial institutions.  I lost the 2022 tax return file that I had not completed after the most recent Turbotax software update.  So I had to redo it from the beginning.  When selecting a financial institution to import, the software says that documents will be ready to import in 2024.    I do understand that working on 2022 tax return in November 2023 is late.  E-file and Turbotax online has closed.  However, there are some states who extend filing federal tax returns until early 2024.  The software was developed for 2022 tax year.  So why couldn't users be able to continue importing 2022 info from financial institutions whenever they use the software?  It does not make any sense to me.  I have got a BIG lesson learned today.

[VolvoGirl]

@ssom   So you are using the Desktop installed program to do 2022?  Sounds like you downloaded the 2023 program if it's saying you can't import until  2024.  Better double check you have the 2022 program.  There is a separate program for each year.   Don't think there are any states that have extended 2022 filing  into 2024.  California is extended to Nov 16, 2023 if you are in a disaster area.  You can buy the 2022 program here,

https://turbotax.intuit.com/personal-taxes/past-years-products/ 

And see,  https://ttlc.intuit.com/turbotax-support/en-us/help-article/disaster-recovery/tax-deadline-extension...  

Most brokers and financial places have taken down the 2022 imports to get ready for 2023.  2022 is now the prior year.  

How did you lose  your 2022 return?  Did you start in the Online version or the Desktop program?  It should still be there to continue.  

[ssom]

@VolvoGirl I am using the Turbotax Premier 2022 Desktop version to do my 2022 tax return.  I just looked at the application before confirming you.  I downloaded and installed it in April 2023.

For the Federal extended till early 2024 if you look at Florida or Georgia in the link you provided, it says "Disaster-area taxpayers in parts of Florida (Georgia) now have until February 15, 2024, to file various federal individual and business tax returns and make tax payments. See the IRS site for more information."

"Most brokers and financial places have taken down the 2022 imports to get ready for 2023.  2022 is now the prior year."  This is probably why Turbotax says documents will be ready to import in 2024.  What I am not clear is the financial places took down the 2022 imports or Turbotax stopped the 2022 imports.  If it is due to financial places, has anyone contacted the financial places and asked for the 2022 imports?  I do not even know if it is possible to import it myself.  The answer is probably no, but thought to ask here just in case.  I am really desperate.

"How did you lose  your 2022 return?  Did you start in the Online version or the Desktop program?  It should still be there to continue."  I started it on the desktop version in April 2023, but did not work on it again until yesterday.  When I opened up Turbotax, it prompted me to update the software and I did.  After that I could no longer locate my file.  I did search the whole hard drive to find .tax file  We definitely did not delete the file as we had not filed it yet.  My computer did not crash either.  This is going to take me a very long time to figure out how to fill out the Schedule D & Form 8949 manually.

[Stubob]

Yes, I am in the same boat. Fidelity Investments is getting ready for 2023, so the previous data has been taken down. I spoke with them extensively about making the 2021 tax data available for download. To no avail, thats not going to happen any time in the near future, however, they did provide me a .CSV file with all the information. 

So I am trying to import the .CVS file into Turbotax. Does anyone know of a way to do this?

Thanks

[Mike9241]

you mean .CSV

there are websites, I vouch for none of them, that offer to convert a .CSV to .TXF 

once you have a .TXF file

From File Tab / Import / From Accounting Software / Other Financial Software (TXF) file / Continue / Choose a File to Import / Import now.

OR

If you have the 1099-B you would only need 6 entries in the 8949.

one for each type A, B, C, D, E, F and with code M (tells the IRS the line represents multiple trades.  Then you could mail the return with the 1099-B attached.