2969258
You'll need to sign in or create an account to connect with an expert.
If you have already entered your interest, dividend income, and stock transactions, then there is nothing more for you to add. If you decide to upload your 1099-B into TurboTax, then yes, your entries will be duplicated, and you will have an inaccurate tax result. If you are unsure that you entered everything correctly, you can delete all of the entries and then go back to the screen where you can upload your 1099-B. Before deleting anything, make sure that TurboTax has partnered with your brokerage firm so that your 1099-B can be uploaded.
To find the list of brokerage firms and banks TurboTax has partnered with, go back to the Investment Income or Investments and Savings screen. If you are using TurboTax CD/download, then at the screen Let Us Enter Your Investment Sale Info, you can select the link for hundreds of financial institutions which will take you to a page where you can see the full brokerage/bank list. To access that list, select 1099/1098 Partners near the top of the screen.
If you are using TurboTax online, at the screen, Let's import your tax info, enter the name of your brokerage firm or bank in the search bar. If TurboTax has partnered with your firm, it will appear on the list and you can select it. If not, then don't delete your entries. Review them for accuracy if necessary.
Regarding capital loss carryovers, if you used TurboTax last year, your loss should automatically carryover. However, whether you did or did not, you can adjust that carryover amount. From the Investment Income section or the Investment and Savings section, select Capital Loss Carryover. The screens that relate to capital loss carryovers are a little different depending on whether you are using TurboTax online versus TurboTax CD/download. In TurboTax online, when you see the screen showing your carryover losses, select Edit, and then make your adjustments. In TurboTax CD/download, select Yes when prompted about 2021 carryover losses and then enter your carryover losses.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
myk
New Member
derrickbarth
Level 2
user17525220452
Level 2
in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
johntheretiree
Level 2
VAer
Level 4