IMPORT OF FIDELITY TAX FORMS INTO TURBOTAX HOME AND BIZ

[pyrotecnico]

Have used Turbotax for decades - Trying to Import our Fidelity Investment tax forms - which are all shown within the Fidelity WEB site account.  My wife and I each have accounts there.  Right now, it appears to only import 1 person's tax info, but when trying to also get my wifes', it just repeats mine!  This new way of importing is not working right!

[CarissaM]

You can only import one account in, as the second account will override the first. 

The second import will need to be done by manually entering the data into Turbo Tax. 

[pyrotecnico]

This is INSANE!   Cannot be right!

For over a decade, Turbotax has been perfectly able to login 'once' to my (or my Wife's) Fidelity account which is all available to either one of us and it downloaded all the data and populated the Turbotax pages.  

The other absolutely insane and major fraud potential is that Turbotax is NOT CLOSING the 'port' it opens to download the data.  I can shut Chrome down, or the computer - and if I then try to download the data again using Turbotax - it never asks for my Fidelity login! It just goes straight to download it again.   If I wait 45 mins or so - Fidelity evidently logs Turbotax off.

I spoke to another online Turbotax tech this AM who looked up my case number and he found that 'yes - 'they know it a problem'. 

[dwsmith48Taxes]

They know they have a problem - when will it be fixed???

[DavidD66]

I can't help you with the download if it's not working properly, but I can give you an alternative that is better than manually entering each transaction.  You can enter summary totals for each asset sale category.  It will require you to either upload to TurboTax a copy of your Form 1099-B, or mail it, with Form 8453, (which TurboTax will generate).  To do this in TurboTax Online:

• Click on Search and type in "Form 1099-B"
• Click on "Jump to 1099b"
• Answer Yes to "Did or will you receive a 1099-B form or brokerage statement for these sales? " 
• Click on "I'll type it in myself"
• Answer the questions about employee stock, etc.
• Click on "Let's enter a summary" button and click Continue
• Enter your Investment Sale information and repeat until you have entered for each category.

After entering all your category summaries, Look for "To finish reporting these sales, follow the mailing instructions" and click on the link for these instructions:

Mailing Instructions

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

 - A Description

 - Date Acquired

 - Date Sold

 - Sales Price

 - Cost Basis

 - Gain or loss for each sale

 - A sale category based on how the sale was reported to you and the IRS

In some uncommon cases, there will be an adjustment code and adjustment amount.

NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453 to:

 Internal Revenue Service

 Attn: Shipping and Receiving, 0254

 Receipt and Control Branch

 Austin, TX 73344-0254

If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.

* The questions you are asked by the program may vary depending upon what, if anything, you may have already entered related to investment sales.