I downloaded 2025 Consolidated Forms 1099 from Wells Fargo. The data that was downloaded from their website did not match the hard copy Wells Fargo mailed. Why didn't it?

[mairwin123]

This has to do with the 1099-DIV of the Consolidated Forms 1099. I contacted our Wells Fargo Advisor and he said the following: "The good news is that the sum of box 1a and 12 are identical on both, so at least all the data is there.  Just need to figure out why TurboTax is categorizing the data differently than WFA." What he is talking about is I pointed out the differences from the hard copy and the downloaded data. IRS box 1a is Total Ordinary Dividends, IRS box 12 is Exempt-Interest Dividends. He was correct but the other IRS boxes have different amounts when you compare them.

[DavidD66]

TurboTax doesn't "categorize" the information imported from financial institutions.  If what imported from your Wells Fargo is different than what is on the hard copy of your Form it's because that's what was sent.  I recommend you delete the import and enter your Form 1099-Consolidated manually.

[mairwin123]

No

This issue needs to be resolved first. Why? Because if I use the data from the mailed copy data verses the data downloaded it will cost me hundreds of dollars. If its not a Turbo Tax issue then its a Wells Fargo issue. The financial adviser is suppose to respond to me after they investigate the issue.

[VolvoGirl]

Log into your Wells Fargo account and see if there is a corrected or amended 1099statement.  That’s happened to me a few times with WF.  So I wait a long time to see if any companies put out a corrected form.  The download should be the latest version.    I think that’s common.  

[mairwin123 · Accepted solution]

Look what Wells Fargo Advisors sent me concerning this issue:

NOTE: SCROLL DOWN TO THE RED SECTION AND MY ISSUE IS ADDRESSED THERE. 

In summary I'm going to wait until the 2nd week in April to ensure Wells Fargo does or does not change the 2025 Consolidated Forms 1099

2025 Tax Information
TurboTax and Lacerte Software Downloads
Wells Fargo Advisors 1099 tax information will be available for download into Intuit’s TurboTax or Lacerte software during the week of February 9, 2026. Clients who are enrolled in Access Online can use Intuit’s Lacerte Tax Form Drop of Box, TurboTax desktop software or TurboTax Online to download tax data for the 2025 tax season.

Downloading Data into a CPA’s Lacerte Tax Preparation Software
Wells Fargo Advisors clients can currently download data to Intuit’s Lacerte Tax Form Drop of Box through a secure website provided by the client's CPA. The CPA will need to send the client an invitation to share their tax information.
The client approves the direct, automatic download of their financial institution forms into a file for a CPA to prepare their return.

The process includes:
1. Client needs to be enrolled in Access Online. A Wells Fargo Advisors Access Online Username and Password are needed to initiate the import process.
2. The CPA needs to send the client an invitation (usually via email) to share their tax information with the CPA. This invitation (or email) will provide instructions to deliver the tax information to the CPA through a client specific file through Intuit’s secure website.
3. Clients will access Intuit’s secure website and sign in with the last four digits of their Social Security
number and their five-digit ZIP code.

4. Then, they will be able to enter their login information, brokerage relationship, and submit their download request.

5. Data is then downloaded directly to Intuit.
6. Activity and trading is loaded into the client’s file for the CPA’s use.
7. CPA never sees the client’s username or password.

The software request for download into Intuit’s Tax Form Drop of Box gets the same download information that we provide for a TurboTax download. A list of the source documents available for download is available on Intuit’s website, and it includes 1099-DIV, 1099-INT, 1099-OID, 1099-B, 1099-MISC, Form 8949, etc...

Downloading Data into TurboTax
• Clients should access TurboTax by clicking on the link in the Tax Center found under the Customer Service tab in Access Online.
• Clients should select Wells Fargo Advisors from the Financial Partners drop-down menu in TurboTax.
• A Wells Fargo Advisors Access Online Username and Password are needed to initiate the import process.
• TurboTax will display Wells Fargo Advisors tax information by account number. The 1099 information
for the selected account(s) will then be imported into TurboTax.

Downloaded Data vs. Printed Form 1099
Although the import feature is an added convenience for clients, the results of the import should be verified against the printed version of their Forms 1099 to make sure the information in TurboTax or Lacerte is complete and accurate before filing. Manual data adjustments can be made, if necessary, once the data has been imported into TurboTax or Lacerte.

Discrepancies Between Downloaded Data and Hard Copy Forms 1099
Be aware that downloaded data may not match the Form 1099 if changes have been made since the last form was created. The downloads into TurboTax or Lacerte are pulling “real’ time” data, whereas a hard copy Form 1099 shows data as of the date the most recent print file was created. The possibility of data discrepancies exists for all companies providing this service through TurboTax or Lacerte. Disclaimers on Intuit’s website advise clients to use their printed/online Form 1099 as the most valid source of data, as it is also considered to be the official tax document.

These discrepancies may be the result of:
• Additional information received for a specific security that will result in an amended hardcopy form, which has not yet been issued to the client.
• The result of differences between reporting requirements for the official Form1099-B versus the cost basis-related information downloaded.

[VolvoGirl]

You don't have to wait that long.  Just keep checking your Wells Fargo Online account and see if/when they post a corrected 1099.  Mine still shows and says "original" on my tax statement tab.  

[jghuang]

I had a similar issue. When Wells Fargo sent me my 1099B, it was one copy with a foot note indicated that it's a consolidated one for three accounts. But, when I downloaded the data from Wells Fargo Bank, it only downloaded the data for one account. The worst was the data wasn't even correct!

Luckily it was for 1099B which I can easily enter manually myself. Went to bank today and they were just as puzzled as I. They told me that the bank manager was out, they will check with her and take it up with the corporate.

[mairwin123]

The entry I made that has the red lettering is a copy of a document that Wells Fargo emailed me. Wells Fargo is messed up when it comes to this issue. The hard copy they mailed to us via USPS is the legal document I'm assuming. In the event we get audited by the IRS that hard copy mailed to use will be used. When I log into the Wells Fargo account, currently the 2025 Consolidated Forms 1099 on the website still matches the hard copy they mailed us back in January. We are waiting until April to file our taxes because I don't trust Well Fargo.