Re: Why doesn't my 1099-INT imported from BECU (Bo...
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D000D
Level 2

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

I have received a single 1099-INT from BECU. The total interest received from all three of my BECU accounts is shown on page one and the interest from each of the BECU accounts is shown on page 2. TurboTax is only importing the interest from the first BECU account. Why isn't Turbotax importing the interest from all three BECU accounts? Turbotax imported all three accounts last year just fine (Turbotax created a separate entry for each of the three accounts last year).

9 Replies
RayW7
Employee Tax Expert

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

I am not sure why TurboTax did not import all three but you can enter the other two manually.  It is a simple process.

 

To enter a 1099-int manually-

 

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

  1. Open (continue) your return if it's not already open.
  2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
  3. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income.
  4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.

 

D000D
Level 2

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

Thank for the reply. I know how to add more 1099-INT or edit the single 1099-INT.

 

The bigger question is why doesn't this work correctly this year when it worked just fine last year? It would be nice to hear from Intuit if this problem is recognized and being worked, and if it will be fixed in the near future.

Cynthiad66
Employee Tax Expert

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

It is recognized and TurboTax is working on a fix, however there is not expected date.  Thank you for your statement we will refer it to technical support.

 

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

  1. Open (continue) your return if it's not already open.
  2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
  3. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income.
  4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.
D000D
Level 2

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

Intuit really needs to provide a ballpark estimate when this problem will be fixed. It worked last year, so it doesn't seem like it should take that long to figure out what was changed for 2020.

 

We now have a bit more time since the tax return deadline has been extended to May 17th, but this problem and related problems with importing forms from financial investments really needs to be fixed long before the tax return due date.

VolvoGirl
Level 15

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

Are you sure it didn't just import the total for all?  I would just change the amount on the one that imported and enter the total of all 3.  When you imported did you specify all the accounts?  If there are more than one you might have needed to select each of them.  

D000D
Level 2

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

As I've state earlier it did not import the total for all. The 1099-INT show the total amount for all 3 accounts on the 1st page and the individual amounts for each of the 3 accounts on page 2. TurboTax only imports the individual amount for the 1st account listed on page 2, NOT the total amount for all 3 accounts.

 

I know how to manually fix the amount that was imported, but why should I have to fix it? This all worked fine last year!!!! Seems like TurboTax is going downhill, yet continually costs more.

 

My larger concern is for all my investment accounts. If I have to manually enter the correct amounts for all of my accounts there really is very little reason to use TurboTax anymore.

D000D
Level 2

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

This problem was reported at least 6 weeks ago. What's the status. Will it ever be fixed?

DavidD66
Employee Tax Expert

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

With all of the tax law changes requiring program changes that occurred this year that affect millions of taxpayers  (things like stimulus payments, exempt unemployment benefits, waiving the payback of health care subsidies) it probably wasn't/isn't a high priority item to fix the BECU import interface, or whatever the problem is.  I recommend you manually enter your 1099-INT and go ahead and file.

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D000D
Level 2

Why doesn't my 1099-INT imported from BECU (Boeing Employee's Credit Union) include the interest from all three of my accounts at BECU?

Come on. You seem to be intentionally missing the point entirely. This has been an ongoing problem with several banks for several years. Using recent tax law changes as an excuse for not fixing something that has been broken for years precisely demonstrates the Intuit problem.

 

Apparently Intuit no longer cares about providing tax software that facilitates preparing tax returns quickly and accurately, but instead seems to be perfectly happy to leave bugs that have been noted over and over again and that can lead to errors and create further problems for their customers. It is exactly that kind of attitude that will make me seriously research alternatives next tax season.

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