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Level 2
posted Feb 9, 2024 10:22:24 AM

M1 Finance doesn't appear within the TurboTax Premier 2023 list of brokerages to download data from

In addition to my Subject message, I have already connected Turbo Tax successfully with Fidelity & Schwab.  Doesn't M1 clear through another brokerage or something?  I remember that from recent years, but M1 Help simply indicates to specify "M1 Finance" which I do and it doesn't work - it isn't listed. 

 

Please advise.

 

Thanks for any help.

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1 Replies
Expert Alumni
Feb 12, 2024 10:53:12 AM

M1 account information should import, according to this M1 article: 

 

M1 seamlessly integrates with TurboTax to allow you to import tax data from your Invest account(s). This article shows you how to find your M1 Invest account number(s) and how to connect your M1 account to your tax software.

 

Connecting with TurboTax 

  1. Start a new return in Turbo Tax
  2. Select “Federal,” then select “Wages & Income”
  3. Answer the following prompts
  4. You will then connect directly to the financial institution. Click “Continue”
  5. On the next screen you will need to enter “M1 Finance” into the field “I’m looking for”  Select “M1 Finance” and then press “Continue”
  6. You'll be prompted to enter your account number and document ID. This information can be located on the 1099 you receive from M1.

If you have more than one account number with a tax form - you will need to add each account  individually. 

 

Please note: TurboTax contains data import limitations. If there are more than 500 1099-B transactions per return, we recommend utilizing the desktop version of the application. This will allow you to import up to 2,200 transactions from your 1099-B. If the total number of transactions in your 1099-B exceeds 2,200, TurboTax’s import function may not work.

 

See also this TurboTax help article for more information.

 

M1 is listed on this TurboTax partners page for Forms 1099.