Import Stock trade transactions from financial company using Turbotax Deluxe

[Eskay2000]

Does  Turbotax Deluxe support the import of stock trade transactions from financial company?

[DoninGA]

TurboTax support the import of a Form 1099-B from a financial company.

See this TurboTax support FAQ for importing a Form 1099 - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/import-1099s/L2...

The import function from the TurboTax partners for tax year 2024 should be available in February 2025.

[xmasbaby0]

Yes---but it is way too soon for you to try that.   Financial institutions typically have their data available for import into tax software in mid-to late February.    And you cannot import past year data.   You will be able to import 2024 data in 2025.

[VolvoGirl]

Yes it imports into the Desktop Deluxe installed program.  If you use the Online version you will need to use Premium to import 1099B for sales.

[Eskay2000]

I intend to import transactions for 2024 from a financial Company in 2025.  My question is "Can I import these transactions using Turbotax Deluxe, or do I have to use Tiurbotax Premier?"

[VolvoGirl · Accepted solution]

You can import into all the Desktop versions.   All the Desktop programs have the same forms and features.   You just get more help and guidance in the higher versions. 

If you use the Online browser version you will need to use Premium.  (Desktop has Premier, Online has Premium)

[Eskay2000]

Thank you. Soto confirm, the desktop version of Deluxe will import transactions from financial company, and properly create Schedule D. Right?

[DoninGA]

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@Eskay2000 wrote:

Thank you. Soto confirm, the desktop version of Deluxe will import transactions from financial company, and properly create Schedule D. Right?

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Correct.  The TurboTax Deluxe desktop editions will import transactions from a financial company and complete both the Schedule D and the Form 8949.

[Eskay2000]

Thank you

[Mike9241]

the financial institution must partner with Turbotax otherwise import will not be possible.  even if you do import you need to check the results. for example, sometimes the FI does not supply the cost basis or the cost basis may be wrong. The incorrect tax basis is almost a certainty if any transactions involved a master limited or publicly traded partnership.