Why can't I copy/paste passwords into the import brokerage logon screen?

[swabbinsky]

I don't download either.  I have a couple managed accounts that get a fair number of trades that would probably blow my return in to 500 pages or more.  So I stopped doing the download years ago.  I don't know if Intuit implemented this yet (haven't installed 2024 yet) but the IRS now also an even simpler entry.  You don't even need the brokerage name, dates, or anything for covered, no adjustment sales.

BUT anyone who wants to download I have a suggestion.  Change your password to something simple right before the download, download, then change it back to a password manager complex one.

There is always a way around user hostile software

[jbowler]

>but the IRS now also an even simpler entry

For some considerable number of years, but Intuit makes it difficult and scary; you have to say you will enter the "summary" information and then they (Intuit) start threatening you.  They apparently want you to enter that data!

One very reasonable approach is to just pick up the paper forms and fill them in.  Another is to use the widely respected Excel Spreadsheet.  Both work just fine and are ridiculously easy if you only have earned income and brokerage income (no Schedule K's please!  Just don't buy that stuff!)

It used to be easy to find the IRS rules for reporting a "summary"; the total of all gains and losses.  The rules pretty much said that if everything was completely reported on a 1099-B you only have to give the total gain and total loss.  I just tried to find it again and it looks like the information has been taken down; at least I can't find it on the internet.

Recent (the last two years approximately) versions of the TurboTax would allow the summary to be entered (as I said it didn't encourage it).  I don't know if that is still true.

First try online filing directly with the IRS (I don't know if that web site has been taken down yet), then **do not download**.  I haven't tried 2024 yet but there may still be an entry to allow you to enter a summary; Intuit did not know this was going to happen for certain (you can only pay so much money!)

If all this fails get the paper forms.  You will be supporting the government!  (They don't want the tax system to work; they've got too much to lose.)

[dsmith5010]

I appreciate your suggestion for the workaround.  However, I have several accounts that I'd have to change, all have 2FA turned on, then I'd have to change them all back. It seems awfully labor intensive for a product I'm paying for.  The no copy/paste is an outdated "security measure" and it TurboTax shouldn't need a workaround in the first place.  Hellooooo. TurboTax.. are you listening? 🙂

[baldietax]

yes you can just manually enter summary gain loss by section (short term, long term etc).  The issue is any adjustments e.g. wash sales, will trigger the need for the details and ask you to mail things in.  The way to resolve that is to just enter the specific lots/sales that have the adjustment with all the details (dates, x shares of blah etc) which will generate form 8949 just for those line items, and then enter a summary entry for the bulk of the balance.

See also language on Form 8949 itself 

"Note: You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was

reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on

Schedule D, line 1a; you aren’t required to report these transactions on Form 8949 (see instructions)."

I have manually input all my 1099s for years, I have not found the import process to be worth the hassle if you have a lot of brokerages, and I prefer to organize it first to account for things like wash sales, or splitting up home state vs. outside state muni interest on 1099-INTs etc and there's always some sort of adjustment needed anyway unless situation is very simple.  I also prefer not keying my passwords into a third party product regardless of how secure they claim it is.

[swabbinsky]

yes, they must be covered with no adjustments.

But you can still aggregate the old way.  I've been using TT since I guess sometime in the early 90s (I have 3 1/2 floppy install diskettes -yup guess I'm a hoarder) and only once did I actually do the download because of the volume..  So for decades I have used the other aggregating entries and yes there is a note about providing the originals.  In the decades I've been doing it this way, the IRS has never once asked for those statements.  And I think unlikely.  A quick summing of my '23 1099s is about 90 pages from 3 brokerages.  

[swabbinsky]

Oh, I should have added.  I volunteer in the AARP tax prep program.  We have several months of training and have to be test certified by the IRS every year.  We use taxslayer which is the software contracted by the IRS for use by these (TCE, VITA) programs.  We are taught to use either of those aggregating methods so I'm pretty sure you're perfectly safe doing so.

[jbowler]

@https://ttlc.intuit.com/community/user/viewprofilepage/user-id/4351775

>The issue is any adjustments e.g. wash sales, will trigger the need for the details and ask you to mail things in.

No; that's not an issue.  The individual brokerages correctly report wash sales so far as I know; I just don't do washes because that's gaming the system.  When my wife mistakenly does a wash (she doesn't do it any longer for some reason) we just sell all the shares and "unwash" it.  It costs a lot more money to process a wash than it does to wipe it and wait 30 days.

TurboTax does not notice washes unless I am mistaken?  If I sell in one brokerage and then buy in another without 30 days (the case where the individual brokerage does not notice it) does TurboTax point this out?

Nah.  You are making things Way Way to complex for I don't know what gain.  If you have one brokerage account just fill in the paper.   If you have more than one (like me) just don't rely on someentity else to get your taxes right; been there, done that, spent money had to refile myself.  Guess I should have sued the CPA; more money, less profit, what everyone wants us to do.

[jbowler]

>I volunteer in the AARP tax prep program.

Thank you; see you soon, I'm heading into the nightmare of retirement.

>We are taught to use either of those aggregating methods

The politics is that simplification helps the government and helps the people.  The reality is that when simplification is exploited it helps the rich and exploits the poor.  Most retired people are fairly rich but not bigly rich; the simple fact is that we cannot retire unless we are rich!

[baldietax]

>>The issue is any adjustments e.g. wash sales, will trigger the need for the details and ask you to mail things in.

>No; that's not an issue.  The individual brokerages correctly report wash sales so far as I know etc

Just to clarify I'm referring to any adjustments reported on the 1099 by the brokerage, I am not doing the adjusting to what is reported.  Unintentional wash sales happen sometimes on dividend reinvestments etc.  The other adjustment that can trigger mailing ask is accrued market discount on T-Notes.

@swabbinsky suggests the mailing can be ignored, and I am sure IRS don't care below some threshold.  But that's above my pay grade.  Personally I prefer to just put in the detail and be done either way.

[Berg2000]

Agreed! I've been using TurboTax for decade(s?) now...this is absolute crap that is making me strongly consider a different product that is actually listening to its users and keeping up with the direction technology is going. They put a lot of effort into getting away from physical media but not into fixing one simple coding issue they intentionally put in place. Not going to keep paying for this pain in the...

[hokieinidaho]

not only that, but having to type passwords makes one vulnerable to keyloggers, one of the old exploits for bad actors. I don't understand what Intuit is thinking here. Bad security, bad CSAT experience. C'mon guys.

[Mike9241]

there is nothing to mail to the IRS if you enter the details of the trades including wash sales or accrued market discount.  Only when multiple trades are listed as one does the IRS want details (there's even an exception to this. It's when multiple trades of types A or D with no adjustments are listed directly on Schedule D lines 1a and 8a.   Importing when available usually provides all the details and codes needed so nothing needs to be sent to the IRS.