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BBben
Returning Member

Problems while importing 1099-B from my bank

I started importing the 1099-B forms from my Chase accounts since yesterday and it seems that there are some issues as follows:

1. While importing 1099Bs, it seems that the TurboTax can't recognized whether the Box A should be checked or Box D should be checked (short-term or long-term). I have to manually select which box should be checked for each item

2. I have two investment accounts from Chase bank. After I finished everything and tried to review my tax return. I went to print center and generate the pdf file of "All official forms required for filing". However, it seems that all the information (1099-Bs) from one of my account are missing on the 8949 forms ( The 8949 forms only list all the 1099-B info for one of my account). This is very strange to me because I filed my tax return using TurboTax for several years and never encountered this problem before. The information on the schedule D is correct (It combined all the info from both of my accounts). The tax return just misses several 8949 pages for one of my accounts.

 Please advice if there is anything I have to do to address these issue or these are the bugs for the current version of the TurboTax. Thanks.

3 Replies
BBben
Returning Member

Problems while importing 1099-B from my bank

I have an update for the 2nd issue. Today I manually input all my 1099-Bs into the Turbo tax and I got the same problem so this should not be the import issue. It seems to me that if one account has too many 1099-Bs and the TurboTax just puts ONE 1099B into the 8949 form. I am not sure why is that and I never encountered this issue for the previous versions of the TurboTax.

Though this doesn't impact the final result but this still bothers me since the 8948 forms doesn't show all the information it has to. Not sure how to deal with this issue.

 

fanfare
Level 15

Problems while importing 1099-B from my bank

Starting with 2019 TurboTax has been seen to apply strange rules that are not understood when printing Form 8949.

If all the subtotals on 8949 Line 2 are correct and everything matches your 1099-B statement, don't worry about it.
OR

use a different tax software product.

BBben
Returning Member

Problems while importing 1099-B from my bank

Now I found a solution for this issue. It seems that if one account has more than 100 of 1099Bs, the Turbo tax would only show one 1099Bs on 8948 forms. The solution is to create another investment account (you can put the identical institution name and account number) and move some of the 1099Bs into this account. As long as each investment account doesn't have more than 100 1099Bs, the Turbox Tax just work fine.

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