TD Ameritrade Consolidated1099 Download

[cprouse]

If you copied and pasted the TD Ameritrade document number from the PDF file, there are two embedded spaces that needed to be removed to get down to the required 11 characters.  I suggest you look very closely at how your consolidated 1099's are treated by TurboTax.  I had a significant difference in taxes due (in my favor) using a different company.  Since I didn't file with TT, I can't see what the differences were, but the ones I filed looked good.

[wpoveromo]

Same problem. This actually happened before too. When I compare manually to the TDAmeritrade form, it seems most are when "Box 1e- Cost or other basis" is $0. The others simply don't have the "Date Acquired" box populated. I see there is a bulk update but you can't do a bulk update on either of those (plus Date acquired is specific to that transaction). 

Sort of defeats the purpose of importing. 

I *think* I recalled an issue with this years ago that was mapped to the online version but obviously don't want to do that  simply to support a feature that should be inherent. 

[CarissaM]

When you attempt to import this into the return, what is the error you are receiving? @wpoveromo 

[tiger850]

Still does not download 1099 from TD Ameritrade as of 3/20/22.  What is the problem getting this fixed?  

[cprouse]

Mine finally imported a couple of weeks ago, but it didn't matter because it imported the data incorrectly.  First time in memory (over 10 years) I didn't use TurboTax to do my taxes.

[wpoveromo]

You do have to remove the spaces.

On another note, I was being asked to manually review 250+ of the individual transactions it imported which was very time consuming. This was my fix:

I've been doing manual calculation. That, and I have multiple TDAmertirade accounts and noticed on the others their were no issues. 

It DOES seem to be an issue with wash sales. For whatever reason, TurboTax requires a review for each and every one of those which is counter productive for an import. This is a TurbTax issue NOT TDAmeritrade since their data and boxes are populated correctly. 

My workaround was doing it with the summary, which I then also had to select the other options to include the "W" summary for wash sales. This was not that intuitive and even the way to account for Wash Sales wasn't helpful. 

I'd advice having an article clearly stating "Wash Sales must be reviewed individually. If you have many of them, consider using the Summary option and make sure to select "W" value in the 'I need to adjust my total cost basis Learn More." 

[CarissaM]

Thank you for providing the way things were able to work for you. @wpoveromo 

[Sc59]

I have the same problem.  Has this been fixed yet?

[MoniqueLO_]

Please see What if I can't import my 1099? for instructions. Additionally, please keep in mind that if you are entering a Document ID it is case sensitive. So, if the Document ID is listed in all caps, you will want to enter it in all caps. 

If you need additional assistance, please feel free to contact Customer Support so you can speak with someone who can assist you. 

@Sc59 
 

[cprouse]

I was finally able to import my 1099 from TD Ameritrade.  TurboTax didn't handle it correctly and used the gross sale amount as taxable income.  It didn't subtract the cost basis.  Since I was going to have to enter my 1099's by hand, and the rest of my return is very simple, I ended up going with one of the free tax services and saved the fee.  I owed over $8,000 on my federal return with TT and ended up with a small refund, which has already been deposited.

[KhoaVan]

I have the same issue with importing TDameritrade account. It says that the limitation is 11 characters for the doc ID. I did triple check and verified that I entered 11 DOC ID characters correctly. This is unacceptable since I paid a lot of money for the software. Please correct the issue.

It seems that Turbotax IT quality went downhill so bad. I could not even resister an account for my dad.

[wwatson2]

My guess is that since TD Ameritrade is moving to Schwab the system is confused; you should call Schwab to get them to help, reference this page: https://www.tdameritrade.com/why-td-ameritrade/td-ameritrade-charles-schwab.html

[cprouse]

Whatever may or may not be happening on TD Ameritrade's end, do you think it's TDA's responsibility to make Intuit's software work with their system?  The PDF versions of the 1099 from TDA are identical to last year.  TDA's customer service people are adamant that we go to Intuit, they're not going to do a thing.

[cprouse]

As I said in a previous post, I was finally able to get the 1099 to import and it didn't account for the cost basis.  I ended up going to another company to save the TurboTax fee.  My federal was free and the state was $14.  To bad, I don't remember the last year I didn't use TT to file my return.  It's been at least 18 years.

[tiger850]

TD never worked, My Ally Bank failed,  my state tax online $10 discount failed too.  Had to spend $10 to mail 1099 to IRS.  Will be asking for a full refund.