Form 1041 Trust filing using Turbo tax Business how do I import 1099 brokerage statement into turbo tax?

[tagteam · Accepted solution]

"Form 1041 Trust filing using Turbo tax Business how do I import 1099 brokerage statement into turbo tax?"

TurboTax Business only supports importing data from QuickBooks.

TurboTax Business does not support importing tax reporting statements (such as 1099s) from brokers or other financial institutions, which must be entered manually into the program.

[easyxpress]

The feature of importing of 1099s from Brokers is quite essential. My Trust is mainly consisted of stocks, bonds and funds. Please consider adding this important feature in the coming year. Thanks.

[koppsm]

I used to be able to import from the brokerage, why has it stopped?

[koppsm]

This lack of feature makes this program useless, certainly not worth the cost.

[tagteam]

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@koppsm wrote:

I used to be able to import from the brokerage, why has it stopped?

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Import with the personal versions of TurboTax, but not TurboTax Business; 1099-B importing is not supported.

[tagteam]

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@koppsm wrote:

This lack of feature makes this program useless, certainly not worth the cost.

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You can still prepare the return and then print and mail it so the program has utility. 

If you took your tax reporting statements and documents to a tax professional, the return would cost you anywhere from 4 to 10 times as much as the program.