Importing 1099 from Goldman Sachs is not complete

[Jonathan1]

I was able to import some data from the 2024 "1099" from Goldman Sachs - but not all accounts were imported. 

The import to TurboTax grabbed my interest from my online savings account correctly  but from only 1 of my 20 certificate of deposits I have with Goldman.  The 20 CDs all have unique account numbers.  So, 19 accounts (CDs) that I earned interest on in 2024 were not imported into TurboTax. 

Do you suspect I did the import incorrectly?  I did phone Goldman Sachs but they were unable to provide me with any clarification. 

[Miss MCJ2]

Other users are having issues with 1099 forms this year,  If you import, then go over the forms thoroughly and be sure everything is correct.  You can also enter the 1040 manually.

[mesquitebean]

@ Jonathan1 

I'm asking this out of curiosity.  Have you looked at a PDF or hardcopy printout of your 1099-INT from Goldman Sachs?

If so, does the first page end with CD #1, and is the second page an interposed page of text information, before the other CDs continue on the third page?     The reason I ask is because in previous years Ally Bank has had a problem with importing because that text page in the middle of it appears to disrupt the import file.   I realize Goldman and Ally are 2 different financial institutions, but am curious if the same phenomenon may be occurring.   I know that in previous years some users have had trouble with Goldman Sachs, too, but I don't know if it's the same cause.

@ SteamTrain  Do you have a comment on this?

[Jonathan1]

Yes, exactly as you describe.  There are several lines of text after the information for the first CD is listed.  After that first CD, the other CDs don't have such text. 

[Jonathan1]

Yes, will do that. Thanks for the reminder.  When I downloaded the 1099 from Marcus (Goldman Sachs) it was a PDF file.  I was hoping there would be other file type options to select - such as Excel so I could more readily add up the various interest in a spreadsheet.  I was able to export the PDF to Excel via Adobe Pro and that facilitated adding up all the accounts. 

[Mike9241]

Contact GS. Some accounts may not have the 1099s ready for import. Sometimes, the forms won't be ready until mid-February or even later

when importing always check against actual forms. some things do not import.

[Jonathan1]

Thank you Mike. Appreciate the reminders.  

[baldietax · Accepted solution]

just tried it tho I normally just manually input, and sure enough it doesn't work, only does the savings and first CD account which happen to be on the first page of the 1099.

also it will create a line item for each account on your Schedule B which isn't necessary.

either way it's simpler to just manually input a single 1099-INT for Goldman Sachs with the total - tho annoying you do have calculate that, Goldman does not provide a summary total on the 1099-INT.

[Jonathan1]

Thank you for confirming.  I am in total agreement with your findings.  In this instance, much more efficient to add it all up and enter to TT.   I, too, would have desired that at the very least a summary total by Marcus/Goldman would have been included in their statement.  And, the ability to save the Goldman Sachs document as an Excel or other spreadsheet file document.  I was able to convert the PDF and that helped me. 

Thanks for your follow-up. 

[DrewJP]

I had the same experience. The auto import feature doesn't work and had to manually enter it. I can see this being a cause for confusion, resulting in underreported income.

[Jonathan1]

Thank you for letting me know I was not the only one to experience this. 

In my situation, and maybe yours too- I had many certificates of deposit (over 10) and that seemed to contribute to the issue.  As mentioned, the import captured the first CD but not the interest on the CDs after it because it seems to be related to how the statement was "formatted".