If your investing income is limited to interest and dividends, then yes, you can use TurboTax Deluxe and download information from your financial institution. If you have capital gains/losses and need to file Schedule D, you will need to use TurboTax Premier. With Premier you will be able to download information for dividends, interest, and sales and purchases of stocks, bonds, mutual funds, etc.
Where on the turbotax form do I set my computer so that I can automatically download all my investment financials from Welles Fargo? I was able to do it last year and can't find it this year.
Please follow the instructions below to import your 1099-B:
I’m using the online version and I don’t see the prompt I used to see on the CD version to download financial data from my investment company
What Online version are you using? You need Premier or Self Employed version to enter investments.
How to import your 1099
https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-my-1099/00/26254
It was true for 2019 Turbotax. It appears Turbotax is forcing us to buy Premier version in 2020 for importing financial information and file Schedule D. I have not bought it yet though.
@ggupta809 wrote:
It was true for 2019 Turbotax. It appears Turbotax is forcing us to buy Premier version in 2020 for importing financial information and file Schedule D. I have not bought it yet though.
Look at the TurboTax page for the 2020 desktop editions - https://turbotax.intuit.com/personal-taxes/cd-download/
For
all
of the desktop editions -Save time by importing financial data including W-2s, investment and mortgage information, plus import from Quicken and QuickBooks Desktop2 (account required)
@ggupta809 All versions of desktop--including desktop Deluxe--have ALL forms and schedules. But if you use online software and need to prepare a Schedule D you will need Premier. Financial institutions do not have 2020 data ready for import yet.
No the Desktop program is still the same way. All versions have all the same forms. You should be able to download or enter 1099B, investments etc. But the program is not ready to import anything yet. There will be many updates to come. Only back in 2014 did they try to make the Desktop program like Online version where you need a higher version. What did you see that makes you think you can't import to Deluxe?
You can even import to Basic. See the 4th item in the chart under the versions. They all have a dot for Save time by importing financial data including W-2s, investment and mortgage information, plus import from Quicken and QuickBooks Desktop2
Last year I downloaded information from Ameritrade. How do I do it this year?
@thosdl1 wrote:
Last year I downloaded information from Ameritrade. How do I do it this year?
See this TurboTax support FAQ for importing a Form1099 - https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-my-1099/00/26254