I had my investment information directly imported from TDAmeritrade. During review of information I am being told I am missing information from 1099-B?

[MayaD]

What information are you missing?

Sometimes the broker's statement does not have the cost basis and you need to enter that.

[briankelley3]

Yes, that is what they are asking for. 

It is kind of annoying that I specifically bought Turbo Tax based on TD Ameritrade recommendation that is was seamless and then I upgraded for another $50+ and the site doesn't do what it says it does. 

I don't know which company is to blame, but it I feel like I got ripped off to some extent. 

[MarilynG1]

If you sold employee stock, you always need to calculate and enter your own Cost Basis (unless you received 'supplemental information' from your employer).

If not, click this link for a detailed article on figuring your Cost Basis for ESPP stock sales. 

[AGD1973]

I imported my investment information from TDAmeritrade but the Cost/basis information was not entered by them as they state on the 1099-B "Report on form 8949 , Part 1 with Box B checked or Part II with BoxE checked. Basis is NOT provided to the IRS (line 12) "Date acquired", "Cost or other basis", "Accrued market market discount," "Wash sale loss disallowed" and "Gain or loss(-)" are NOT reported to the IRS.  Yet TURBO tax is requiring me to enter something in 12 different cost/basis boxes.  I have called TDAmeritrade and they state the same and that I should check with my tax advisor.   I called my financial advisor and he is not a tax person.  So what do I put into these boxes so I can complete my taxes.  This is the only item holding up my submission.

thank you

[AGD1973]

I have the cost or other basis for the actual overall shares however dates acquired state "various".  The UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS (Ordinary gains or losses are identified in the Additional Information column) does have notes for example one note states 

Principal payment  cost basis factor : 0.[social security number removed].  do I put that into the Cost/Basis box?

[AGD1973]

I have called the 
Broker and they are NOT required to put this information in and they won't tell me what to put in there.  They refer me to you... so what do I do?

[AGD1973]

These stocks are not employee stocks.  

[AmyC]

Yes, all of the Scottrade people taken over by TD Ameritrade have the cost basis issue. You have to use your records of stock purchases to supply the cost basis.

I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s. Stock purchases are good to keep in here.

TD Ameritrade and Schwab combo may cause you to lose your basis again.

See Stocks (Options, Splits, Traders) 1 | Internal Revenue Service for help with the basis.

@AGD1973

[Flakeman17]

What does he do now!  They changed the rules. I have sold stock from DRIPS in the past and thet provided all of the info. They now only have to keep 7 years. They have the records. 

[DaveF1006]

At this point, you may need to research historical stock prices beyond those 7 years to get the stock basis information otherwise this could result in more capital gains than you may be willing to pay. here are a few suggestions.

Internet Sources for Historical Market & Stock Data

• Yahoo! Finance - Historical Prices. ...
• Dow Jones Industrial Averages. Historical and current performance data. ...
• S&P Indices. Historical performance data.
• IPL Newspaper Collection. ...
• Securities Industry and Financial Markets Association. ...
• FINRA: Market Data Center

[Bill1939]

When I downloaded my TD American tax information, Turbo Tax informed me there was missing information. TurboTax informed me there was missing information for ISHARES GOLD TRUST ISHARES (8 MISSING, and SPDR GOLD TRUST GOLD. (5 MISSING)

At TD AMERITRADE, 2 agents told me the problem is a BUG IN TURBOTAX (which I do not believe), I am stuck fixing the 41 errors Turbo Tax tells me I have, and I suspect it or most of it is due to the missing information.     I feel like a volleyball with each side telling me the problem is on the other side.

Any suggestions: should I stop using Turbo many years and hire a tax professional?

It is also impossible to reach a live person, which suggest this is the last year I try using Turbo Tax, after at least 20 years.

William O.     [phone number removed]     [email address removed]

[JulieS]

I can't tell exactly what is going on with your return, but it is very common to have to review your 1099-B transactions after they are imported into the program. 

If you are having trouble understanding what information is missing from your transaction, you can contact TurboTax, either by clicking on Tax Help in the program or by calling us. We can't call you from this forum and your personal information was stripped from your post. 

Click here to contact TurboTax.

[astiboy]

Just want to say I am having the same issue.  Turbotax has made it impossible to override these boxes or I would fill out the form as the brokerage sent me the 1099B and let the IRS decide how they want to tax me and pay them when they get to it.  I should have the option when the information is absolutely not available.  I, too, will not be using TurboTax anymore but will buy another product in the future.  All of this for a trade worth $28.13 is really not worth it. 

[wpoveromo]

Same issue (though I have 250+ transactions they are telling me to review). I *think* I had this issue several years ago and was recommended to use the desktop version. Has anyone tried that?