Not Able to import Etrade 1099 since its a large file.

[jayc2000]

I would like to know how many people are having this problem with multiple trades accounting for over 10,20,30,40,million in proceeds. I also would like to hear from Turbo Tax on weather they are going to fix the problem or not so everyone having issues can go somewhere else  ,so they can complete there taxes.

[jayc2000]

As you may have guessed by now ,I am very upset with TT. First of all I know I am not the sparpest tool in the shed,and that being said ,when they tell me to split up my transactions into multiple sizes ,and import into TT ,I dont get it ,If i have to do it that way ,I need someone to hold my hand thru every process.TT please fix this problem before July tax season

[jennyw22]

I do not think that TT will fix this. I am very disappointed by TT because it is not new feature, it is just expanding for more data.  $10M and 2000 records limit are really too small for current use. It might be enough 20 years ago. But it is year 2021 now!

[sunjie36]

Wow. Surprised so many people having the same issue the TT response is as lousy as their H1B  salary.

[sunjie36]

I'm spending $65 on H&R Block. If this works, See ya TT.

[RichardTheGreat]

Invsetotek solved my problem with E*Trade. I did not have a transaction limit problem (about 1,000). Premier went 'not responding' and never recovered. There is an issue specific to E*Trade 1099-B that interferes with TurboTax. I had to use their Full Service option, $15, and create csv file from Accounts > Portfolios > Gains and Losses. Emailed it to them and got it back TXF file and the XLS file he created for the TXF.

This info is in the FAQ https://www.investotek.com/brokers.htm#etrade

I don't do spreadsheets, etc. $5 for the Excel plugin to create TXF files, or $15 to create a usable TXF and a XLS file (and solve my problem) is cheap. Got results in 24 hours (check Spam folder). He said he tested import to TurboTax. Took Premier about three minutes to import it. Got the results I was expecting.

Really happy with investotek.

[Adtp85]

I used the summary option as mentioned by experts. short term/long term.

If you have proceeds greater than 10m, you will need to split that into 2 transactions.

As long as numbers match 1099B, it should be fine.

Would have been great if TT fixes the issue for good, but doesn't seem like they want to put an effort in resolving that. At the very least they should remove 10M limit when doing a summary, thats just ridiculous.

You only need to send 8949 to irs if you have some transactions not reported to IRS , you may not need to send 1099-B copy as they already have it available with them.

[jayc2000]

Adpt , i was having trouble with importing my 1099-b from etrade into turbo tax,getting message unsuccessful import. I came across another poster ( Richardthegreat) who directed me to a company called Investotek. they offer 3 ways to import data to turbo tax,very inexpensive, for $5 you can pick 2 ways to import ,I had to go with the 3rd option which cost $15 , because of problem with etrade. I sent my cvs file to Jeff from Investotek and within 24 hours he sent me a vtf file that was able to import into turbo tax, it fixed my issue,which i had 220 pages of trades. Anyone having this issue should consider Investotek , it took me no time at all to file my taxes. I am still not letting Turbo tax slide on this issue. A representative from Turbo tax told me that because my proceeds were above 10 million that turbo tax would not work, I have used turbo tax for 10 years and never had a problem,as a matter of fact last year i had proceeds over 10 million and did not have a problem.Turbo tax needs to change this. It would not bother me to pay a little extra if they would upgrade there software to accomadate the active investor. Hope this helps and again Thank you Richardthegreat for steering me to Investotek.

[jennyw22]

Hi Jayc2000,

Could you please tell a little bit in detail how to import after we receive the vtf file? In turbotax interface, it asks you to pick a broker, then it will pop up a window to input E*trade username and password. Now with the vtf file, how did you import?

Thanks.

[jayc2000]

hi jenny, jeff from investotek sent me these instructions 

1. How do I import my TXF file into TurboTax and H&R Block At Home?

NOTE: These instructions are for the desktop versions of TurboTax and H&R Block At Home. Currently, the online versions do not support importing TXF files. Fortunately, you can transfer your information from the online versions to the desktop versions, and you can get a discounted download of the desktop versions on Amazon that include the state return and end up paying less than the online version anyway.

TurboTax

1. Start a new return or open your existing return in TurboTax.
2. From the File menu, select Import and then select From Accounting Software.
3. Select Other Financial Software (TXF file) and click Continue.
4. Select the TXF file you want to import (if you don't see the file in the list, click Browse), then click Open.
5. Click Import Now (Windows) or Continue (Mac).
6. Select the information you want to import into TurboTax, and then click Import Now.
7. To check the import, from the main menu select View -> Forms, and select Schedule D from the left-side menu. NOTE: once you've checked the totals on Schedule D, you can ignore any TurboTax warnings or prompts to check or go through the individual import entries - those are just standard warnings, and you will have already checked the totals.

[jennyw22]

Hi jayc2000,

So I just nee go to investotek to pay $15 via paypal for the service excel to txf full service, right? Then the employee at investotek will contact me to email them the csv file I download from E*trade?

Thanks,

Jenny

[jayc2000]

Yes, sign up for 15 dollars and they will contact you thru e mail, download csv file and send it to them, they will get back to you within 24 hours and they will give you instructions, like the ones I have you and they will also make a spread sheet for your records. Richard the great helped me with it, good luck

[jennyw22]

jayc2000,

Thank you very much!

[jennyw22]

Jayc2000,

I just downloaded my csv file, however, after I reviewed the csv file and I saw the numbers for the total proceeds, cost basis are not same as 1099B summary. Did you check them with your 1099-B?

Thanks.

[jayc2000]

They are very helpful, email Jeff and tell him your problem, he will go out of his way to help.