Downloading forms from banks

Forum|Forum|2 years ago
December 31, 2023
1 reply
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Typically I wait until March 15th to download the tax forms from the banks. Can I do it twice? Specifically, I know some forms are available in February while others are available later.

Can I do this transfer once in February and again in March? Does Turbo tax know that I already downloaded some? or will it have duplicates and mess up my return?

SteamTrain

Level 15

@rafaelsolorzano

Hard to tell what the software will do this year.

In some prior years, the software created an entirely new form when you imported the same document from the same financial provider a second time. (Like, importing a 1099-INT from the same bank twice)

Then a year or two ago they started overwriting the prior form.....IF..it was the same form type...;;...from the same provider. But they may have changed that and it's too soon to tell.

Certainly, if you do get duplicates forms from re-importing, you can always delete the duplicate....just practice navigating around in the software early in the season so you can see how it would be accomplished.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*