the 1099-B import was unsuccessful fidelity

[scottvf]

After it opens the browser it says Success! We got your tax data. You can now return to TurboTax but in turbo tax it says the 1099-B import was unsuccessful fidelity. It would take me forever to enter this manually since there are 214 Pages of data.

[CarissaM]

Do you have more than one Fidelity account you are trying to import? 

Please keep in mind it will only allow the import if there are 10,000 transactions or less, otherwise, you will need to follow the instructions here to manually enter. 

Please click here to speak with us by phone for further assistance. 

[scottvf]

No, there is only one Fidelity account. I opened the .csv file in exel to look and there are 4549 lines of transactions. 215 pages in pdf format.

[scottvf]

I'm thinking of trying this place to import my .csv file into turbotax. It will convert it to .txf file for importing. https://www.investotek.com/

[fanfare]

As an active investor, you must be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option (aggregation) to put your numbers on Schedule D Line 1a or Line 8a.
No mailing is necessary.
--
If you have wash sales, it gets more complicated since those adjusted transactions have to be itemized on Form 8949 and the summary totals adjusted accordingly.

Enter the wash sales on Form 8949, then use the subtotal results on the bottom of that form (Line 2) to know how much to subtract which gives you the Schedule D line 1a totals. Be sure to NOT check the adjustments box in the summary window.
--
Alternatively, if entry of Wash Sales is too tedious,
summarize and check the box for adjustments and enter the disallowed amount.
This summary will go on Schedule D Line 1b.
You will be making the mail-in election.

Note: only the wash sales details have to be mailed if you summarized wash sales separately.

You may want to get Pro Adobe Reader that lets you edit your 1099-B PDF and reduce it down to only wash sales.

It depends on how many wash sales you have to report.

Second Option:

use some other tax software that lets you attach the consolidated1099-B (wash sales only, or entire) as a PDF file when you e-File with aggregation.

Then no mailing is necessary.

PM me if you don't know what software will do it.

[scottvf]

Here's a small sample of the .pdf file. It has 23 sales per page and 214 pages. Which is 4,922 sales. I do a lot of day trading so I buy and sell anywhere from 1-100 times a day. A lot of info to manually put in.

[DianeW777]

There will be time involved however, you mentioned an excel file which would make it easy to summarize regular sales into long or short term, then a similar section for wash sales.

This could be the easiest way that would use the least amount of time if import is not working. For your convenience I will provide the wash sale rules as to when they are actually complete.  You need to continue to track the stock basis for these and the excel could be invaluable for this.

Wash sales can be combined into section totals.  You must track your cost basis and know when you are allowed to use the information on a final sale.

Wash Sale Rule Defined:

• A wash sale occurs when an investor sells or trades a security at a loss, and within 30 days before or after, buys another one that is substantially similar.
• It also happens if the individual sells the security at a loss, and their spouse or a company they control buys a substantially similar security within 30 days.
• The wash-sale rule prevents taxpayers from deducting a capital loss on the sale against the capital gain.

Affect on Cost Basis:

• The loss that occurs on a wash sale is added to the cost basis of the shares purchased that created the wash sale.
• When all shares are sold and there is no repurchase, that increased cost basis will be used in full and used to determine gain or loss.

As long as you are tracking the wash sales and are not using them on the tax return when you are not allowed, then you can simply enter the same cost basis as the selling price. This will  reconcile your tax return with your Form 1099-B Proceeds which is what the IRS is comparing.

Be sure to keep good records so that you know when to add those losses for future sales.

[scottvf]

I already know wash sale rules. I'm trying to import my file which isn't working.

[scottvf]

Has anyone tried another software to see if it imports it? I was thinking of using H&R block software but don't want to waste time if it doesn't work either.

[thus1]

I have tried H&R. They could not import from Fidelity either. 

[Elbakid]

I'm having the same issue, but I have more than 1 account. Because of this error, none of my accounts are being imported with no option to select which accounts to import or import the ones that can be imported without error. Is the solution to this problem to import by hand all the accounts even though not all the accounts have more than 10,000 transactions? If so, this 10,000-transaction limit needs to be fixed now or an alternative solution needs to be found and offered. Other products have solved this problem, so the limitation has a solution.

[Elbakid]

Have you tried the https://www.investotek.com/ software and did it solve the 10,000 transactions limitation? Any security concerns with using this software?

Thank you for sharing!

[gaga542]

I am having the same issue. I am able to login into Fidelity and and when I return to Turbotax it give me a message that "The 1099-b import was unsuccessful" and directs me to an article dealing with having more than 10,000 transactions - which I do not.  

When I entered the summary data manually, it tells me that on a couple of accounts that I need to mail in statements to the IRS. I have never had this issue before.

Is there a bug that is being addressed?

[MoniqueLO_]

If you are using TurboTax Online, you may want to try a different browser or try clearing out your browser's cache and cookies. Please see How do I delete cookies? and How to clear your cache for more information.

Please see What if I can't import my 1099? for instructions. Additionally, please keep in mind that if you have to enter a Document ID that it is case sensitive. 

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

@gaga542 
 

[scottvf]

Yes, I used https://www.investotek.com/ full service. I emailed them the .cvs file and they converted it to .txf file which did import into turbotax without a problem. I'm still going to wait before filing to see if TT gets this problem fixed.