Support for importing tax info from online brokers.

[mkroczak]

Does TurboTax support E-trade and Interactive Brokers online import?  If I am not mistaken this should not be a problem with E-trade but not sure about IB which may not be listed.

[DeanM15]

Yes, TurboTax supports both Interactive Brokers and E-Trade for online import. 

Just begin typing the name into the 1099B section to download your forms. 

[mkroczak]

Will that import also 

1)  Gain/Loss Worksheet for 1256 Contracts

2)  FX Income

Asking because 1099B does not seem to have FX info

[DavidD66]

TurboTax will not import 1256 Contract or FX income information.  You will have to enter by going to "Contracts and Straddles" under Income and Expenses.

[mkroczak]

Manually each one transaction? Would csv file help out somehow?

[mkroczak]

So basically I have a lot of small FX transactions and FX worksheet from my broker, there is also total amount from all transactions. Where do I put it?  Do I have to list every single FX transaction or simply one number?

[KathrynG3]

It may be easier to simply report these transactions in summary form and mail the detail to the IRS within 3 days of electronic filing using Form 8453.

Regarding your question about a .csv file, please see this article for more details on how to import .csv with written and video guidance. Reporting Cryptocurrency using a .csv file.

Form 8453 must be included with the additional detail. 

Mail Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving

0254 Receipt and Control Branch

Austin, TX 73344-0254

For state details that are required to be submitted, it would depend on your particular state. To contact your state's Department of Revenue, click this resource for Sate Department of Revenue Resources.

[mrgrtk]

In previous years Turbo Tsx imported info from my financial institutions.  Having problem using new computer for slightly blind.

[mrgrtk]

Thanks for your advice.  It helped.  Can now continue with report