WHY DOES THE SITE CONTINUE TO FREEZE

[Cleomobile]

I'm having this issue with the check entry screen for the 1099B. I've cleared my cache, deleted cookies and everything else you guys have recommended and it still doesn't work. What can I do? And please ask someone to fix these issues with your software/site. It's not our fault.

[SForrestLO]

@Cleomobile

To update or delete the information you imported in TurboTax Online:

Open or continue your return.
From the left menu, select Federal and then select Income & Expenses.
Proceed to the Your Income and Expenses screen.
Select the Edit button next to the item you would like to update or delete.

In the TurboTax CD/Download software, you can delete imported items as follows:

Open your return.
From the TurboTax File menu, select Remove Imported Data.
Select the item(s) you want to remove and follow the instructions.

Caution! Changing the information you imported can be problematic. For example, if you're audited you'd have to explain why the numbers on your return differ from the original data source. If you must update or delete items, be sure to keep detailed notes with your tax records.

How do I fix my 1099-B negative values?

[Cleomobile]

This didn't work I have no idea what to update. There is no negative proceeds value anywhere on my 1099s or my return. 

[WendyN2]

If you are dealing with a small number of transactions, and you imported your 1099-B, have you considered trying to delete the imported and manually entering them (only 1 entry for total net L/T gains/<losses>, 1 entry for total net S/T gains/<losses>, and any wash sales? Also, if you haven't yet tried this and are going do try - don't forget about any interest and dividend income, etc. 

[Cleomobile]

I cleared the transactions and inputted them manually twice and I cleared and I re-imported the 1099’s 3 times. I have completely cleared and started a whole new return 3 times now using these various methods and no matter what, it still says I have negative cost basis. 

[ChondelLO]

Please click the link below for steps to help customers impacted by the negative proceeds values issue that is preventing the e-file submission of tax returns.

How do I fix my 1099-B negative values?

[blah]

Thank You WendyN2.   now while your advice is a little late from my question last year.  I was indeed importing my 1099-B's and it was making both turbo tax desktop and turbo tax online worthless,  and unusable.  So this year I stopped importing and I am not typing it in by hand.   Last year my 1099-B's were not that big and it killed Turbo Tax when importing.   This year (2020) one of my 1099-B's alone was over 300 pages because of losing everything on Margin Calls, so I knew there was no way Turbo Tax was going to work if I imported it.  So a financial tax accountant friend told me I don't need to enter every transaction and to just enter the sums just like you suggested.   That is working and I am not having the hour long and longer spinning icon and constant time outs and failures in Turbo Tax now that I am stopped using their import feature.    I wonder why they self injure themselves and import every single transaction instead of just the sum totals?

[trebor1972]

I have cleared cache, restarted computer, and done all of the things that are posted and still am stuck. Is there a way to manually go in and update the files. It probably cannot handle the number of stock trades I have entered from TD ameritrade

[KatrinaLO]

If you are having issues and need assistance, please contact customer support. Please see the Customer Support phone number here. If you would like to reach out through our website, please see the TurboTax FAQ below for contact information: https://support.turbotax.intuit.com/contact/

[blah]

Totally a bad idea to call TT support, nobody at Turbo Tax understands or are allowed to admit their product suffers massive failures when importing 1099-B with lots of transaction, in my case TD Ameritrade.  The past 3 years I have spent at least 20 hours each year on the phone with Turbo Tax support, it is painful as you have to prove the lock up etc etc, eventually they move you up the line to other help, but these people which are closer to real tax professionals, they are quicker to tell you that they can't help because it is the software that is failing.   They then offer a desktop version, which while it does help it still suffers the same issues just not as bad.    

Bottom line DO NOT IMPORT 10099-B into Turbo Tax if you make regular buys and sells, TT Import does not know how to use the sums of transactions and instead give you hundreds of pages added to your tax return reporting every single transaction which is what chokes the TT software into crashing, timing out, and generally not working...    Last year I was not even able to run the Review Process on TT Online, it would never complete and just time out ( i spent at least 30 hours on the phone, problem never solved ).   

The solution is to just add the sum totals of the Long Term Reported, Short Term Reported, Long Term not Reported and Short Term not reported by hand.   TT does an excellent job then and the hours and hours of spinning cursors and time out will not occur.   I am having a much better time this year with Turbo Tax by foregoing Import.

[blah]

Hi Trebor1972,

None of that stuff will aid your issue if you made the same mistake I did the past 3 years and imported my 1099-B's, TD Ameritrade was the one that killed me too, nothing to do with TD Ameritrade but it has to do with the number of Transactions.   Calling support has been a major waste of time over the past 3 years (clear cache, delete cookies, reboot), now everyone is nice and very helpful but they have never been able to solve the problem, and seem to not be able to admit the limitation the online program has.   Bottom Line Do Not use their be impressed import feature, you will not be impressed if you have a lot of transactions... LOL

You need to go to where the forms are and delete the tax forms that were generated when you imported, once those are deleted you can then enter all the data manually like I did this year and I am now having zero issues with TT timing out and hours of spinning cursors.     If that sounds scary you can call support and they will show you how to do that.  The are very useful about stuff like that.   Meanwhile, you should just be able to delete this years TD Ameritrade entry from the normal area of the online program and that should delete all the tax forms generated with the import.  

I am not sure why TT chose to report every single transaction when you import the 1099-B, but they do.   I had professional tax person (friend) that told me you don't have to report every single transaction and that it is much easier and a much smaller tax return to just use the sums of all your Long Term Reported, Short Term Reported, Long Term Not Reported and Short Term Not Reported total sums including any wash sales.  Just click the check box and select Wash and add the wash total sum and Turbo Tax will calculate the proper taxes to be paid.

You will have to go manually do the 1099-D, 1099-INT and 1099-MISC manually as well.  We also had to manually add our expenses like margin interest, so do that as you normally do.  Margin Interest is considered an investing expense and you can write that off your taxes.  (you probably already knew that)

Let me know if with a reply if it worked for you.   It is working for me and I am much more impressed with Turbo Tax Online again and pleased with the software.

[blah21]

Thank you, @blah !!!!!!  Your 1099-B answer was so helpful!!

[blah21]

Thank you @blah !!!! Your 1099-B answer was soooooo helpful!!!! 

[blah]

Glad i could help blah21 😄   

[KatrinaLO]

You may need to clear your browser's cache and delete the cookies stored on your computer. A full or corrupted cache can keep TurboTax from functioning properly.

Please see the below FAQ for instructions on how to clear the cache and delete cookies.  

Clear Cache: here 

Delete cookies: here

If you have cleared your cookies and cache, updated your browser, and still receiving the same error, please click here to contact customer support.