Turbotax won't import all tax documents from Merrill Lynch

[cwd37]

I have 7 accounts at Merrill Lynch of which 5 have tax documents for 2019.  I'm only able to import forms for 2 of the 5 accounts.  I get a list of 8 items across the 2 accounts and nothing from the other accounts to chose from.  Of course, the account with the longest 1099-B isn't importing, so I'd like to get this fixed.

So....how do I get the import to see all of my accounts with tax documents?

[ThomasM125]

This could be an issue with Merrill Lynch or with how your computer in interacting with TurboTax. I suggest you clear the cache on your computer as follows, as this may help:

https://ttlc.intuit.com/community/troubleshooting/help/how-to-clear-your-cache/00/26135

You may have to restart your computer after you clear the cache.

Also, you can try using a different web browser to log into TurboTax, or a different computer.

If you still have trouble, there is probably not much TurboTax can do to correct the issue, as all we do is contact your broker electronically and grab what they make available. If they don't make the download available, there is nothing we can do to compel them to do so. 

[cwd37]

I'm not using a browser to access TurboTax.  I'm using the Windows 10 app.

I've also tried to import specific types of documents, such as 1099Rs or 1099Bs and that doesn't work at all.  All document types are imported every time.  Not sure if that points the finger at you or Merrill Lynch, but frustrating that I can't find a way to get all of my tax documents to download.

[fanfare]

As an active investor, be aware that your category Box A 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 to put your numbers on Schedule D Line 1a.

[cwd37]

I buy and sell a lot of tax free municipal bonds.  The IRS wants to know exactly what states the interest was earned in, so I can't just do a summary entry for that.  At least, I haven't found a way to do it over all these years of using TurboTax.

I've also been told by Merrill that although my online statement is posted, the data will take a few more days to be available for download.  So, hopefully this is just a delayed download availability problem.

[Genius-USA]

I had the similar issue where nothing was being transferred (All amounts were 0's). Tax statements were posted today @ Merrill and it may take some time before Turbotax may be able to pull all information. This is just my guess.

[ghstudio]

still can't import.....hopefully, they are just very slow.

[LeeB2]

I had no difficulty importing from ML in January -- 1099-Rs...   Since ML has published the rest the first of this week, TurboTax has been unable to connect with ML for import. So I'm guessing it isn't a technical issue, but instead a built-in delay by ML to give a little space between the publish date and the import ability. 

[kmahoney]

I just spoke to a rep at ML. They acknowledged that it is their issue and it is being addressed. No ETA, but at least they are aware.

[WendyN2]

Thank you for posting this - much appreciated! I will pass this information along to any others experiencing the same issue. 

[Genius-USA]

i tried just now and it worked for me, so guessing it has been resolved.

[WendyN2]

Yes, they actually resolved it just today so your timing was impeccable! Glad you tried again and it worked for you.

[kmahoney]

Yup. Import worked for me too.

[monikrishna]

I tried to import 1099 from Merrill in my Home & business software, there were error message " more than 3000 transactions". I may have 1000  transactions. But I downloaded from TD Ameritrade, no problem. I contacted Merrill and they said there is no issue at their end. I need help, what to do. I have too many transactions to enter by hand. Can Turbo Tax take pdf download or excel spreadsheet or any other alternative. Can I just enter the summary from Merrill and still efile? Do , I have to send SchD info from Merrill by regular mail in that cas?  

[JohnB5677]

If you cannot import your brokerage information you can quickly enter this manually.  Your brokerage statements should include a summary of your transactions, grouped by sales category.

There are seven possible "Box" designations that indicate the holding period (Long/Short Term) and the reporting status.  These are the only ones you have to summarize. If you want to manually enter your 1099-B as the summaries.

1. Tell us about your 1099-B sales for this BOA account
   1. Answer the questions
2. Since you have more than a few BOA sales, we recommend entering sales section totals
   1. Continue
3. Before entering sales section totals, take a moment to find them on your 1099-B
   1. Continue
4. Now, we'll enter one sales section total on your BOA 1099-B
   1. Use the drop down menu to select the correct designation.

Code A. This code indicates a short-term transaction for which the cost or other basis is being reported to the IRS. Use this code to report a transaction that the recipient will report on Schedule D (Form 1040), line 1a, or on Form 8949 with box A checked with totals being carried to Schedule D (Form 1040), line 1b.

Code B. This code indicates a short-term transaction for which the cost or other basis is not being reported to the IRS. Use this code to report a transaction that the recipient will report on Form 8949 with box B checked with totals being carried to Schedule D (Form 1040), line 2.

Box C. Report on a Part I with box C checked all short-term transactions for which you can't check box A or B because you didn't receive a Form 1099-B (or substitute statement).

Code D. This code indicates a long-term transaction for which the cost or other basis is being reported to the IRS. Use this code to report a transaction that the recipient will report on Schedule D (Form 1040), line 8a, or on Form 8949 with box D checked with totals being carried to Schedule D (Form 1040), line 8b.

Code E. This code indicates a long-term transaction for which the cost or other basis is not being reported to the IRS. Use this code to report a transaction that the recipient will report on Form 8949 with box E checked, with totals being carried to Schedule D (Form 1040), line 9.

Box F.  Report on a Part II with box F checked all long-term transactions for which you can't check box D or E because you didn't receive a Form 1099-B (or substitute statement).

Code X. Use this code to report a transaction if you cannot determine whether the recipient should check box B or box E on Form 8949 because the holding period is unknown.

Open or continue your return (if it's not already open) and search inside TurboTax for the phrase stock sales.

1. Select the Jump to link in the search results.
2. Answer Yes to both Did you sell stocks, mutual funds, bonds, or other investments? and Did or will you receive a 1099-B form or brokerage statement for these sales?
   • If you land on Here are all your 1099-B sales, select Add sales from a different brokerage. Then answer Yes to Did or will you receive a 1099-B form or brokerage statement for these sales?
3. When asked how you want to enter your 1099-B, select I'll type it in myself.
4. Select or enter your brokerage on the next screen and continue.
5. On the following screen (Tell us about...), answer the questions until you reach the next screen. Select the second option, Let's enter a summary instead, and select Continue.
6. You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.

When you are done, you'll eventually come to the Here's a summary of your broker sales screen where you can edit, delete, or enter more sales.

You will have to mail a copy of your 1099-B to the IRS.  TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it. 

@monikrishna